And while initial claims fell a bit, with the 4-week moving average rising, and continuing and extended claims both falling.

Still it’s 423,000 which is far short of a recovery.

On the other side, you have the Leading Economic Indicators beating estimates, but a lot of that was driven by an increase in the money supply as investors moved to (safer) cash from other less liquid investments.

Not only do I expect unemployment to remain above 9% for the foreseeable future, I expect it to top 10% again at some point in 2012.