Stocks and Jobs

Things are going great
And they're only getting better
--Timbuk 3

Stephanie Pomboy posts the relationship between the headline unemployment number and the SPX since 1990. At best, job numbers are coincident, perhaps even slightly lagging, indicators of stock market performance.

Stated differently, it seems unwise to regard recent record low unemployment numbers to be a harbinger of higher stock prices--particularly with stock indexes already near all time highs.

position in SPX