If It's Thursday...

Special GDP edition, numbers are in and the GDP for Q3 was 3.5% growth. Definitely an improvement and CNBC is already trumpeting the end of the recession. The reason it doesn't feel like the end of the recession is that many of us are still in one.

In a separate report, the number of U.S. workers filing new claims for jobless benefits dipped by 1,000 last week, while the number collecting long-term aid fell to the lowest reading in seven months as the job market steadied.

Initial claims for state unemployment insurance declined, though the number was higher than expected, to a seasonally adjusted 530,000 in the week ended Oct. 24, the Labor Department said. Analysts polled by Reuters had forecast claims to fall to 521,000 last week from 531,000.

Get that? Half a million plus jobless claims this week is good news because the job market has steadied. Companies have all the excuses in the world to cut benefits and employees and reap profits.

Who here thinks America is going on a hiring binge now that the recession is "over"?

Didn't think so. Welcome to the new normal.