The Labor Department reported that the number of laid-off workers seeking jobless benefits rose last week to a seasonally adjusted 626,000 (43,000 more claims than expected by the analysts). That puts the number of jobless claims in an elite list: the highest since October 1982, the last recession that has been this dreary.

Positive note: the economy back then was about 35% small in 1982 so the numbers are not as bad as in 1982 in relative terms.