Aaron brought this up in class, and we talked about it a bit.
In retrospect, I can’t dig out what Aaron was talking about; this is not to say Aaron was wrong, just that I couldn’t pick out what he was talking about from the ton of new data available (one possibility is initial unemployment insurance claims for last week, while another is change in unemployment for December). The numbers are similar.
I did make the mistake of asserting that perhaps the unemployment rate had gone up to 7.5% as expected. This data won’t be released until Friday morning, so that couldn’t be it either.