Just how important are jobs to the equity markets? If I didn’t know any better I’d think this chart was the S&P 500. As you can see, the inverse chart of the initial jobless claims data has a disturbingly high correlation with the equity market in the last 18 months. Keep an eye on those weekly jobless claims. The likelihood of this correlation ending is very low as jobs growth remains the one primary missing link in the economic recovery:
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