JEPI - During The Wintertime Pandemic Surge Hiring Hit A Brick Wall

• The January JOLTS report showed a pattern generally consistent with the past two recoveries, with layoffs having returned to normal levels, then hiring having increased, and finally quits and openings increasing as well.
• But the late autumn and early winter surge in the out-of-control pandemic resulted in increasing layoffs and separations, and a sharp downturn in hiring.
• Since February's jobs report was considerably better than either December or January's, I continue to expect a positive reversal.

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