SPDV - January Jobs - Part 2

• Digging deeper into the BLS jobs data for January reveals some cautions as well as additional positives and interesting facts about the impact of the pandemic on the jobs situation.
• As the result of some additional data that BLS has started to collect since the pandemic hit, we see that the number of people on temporary layoffs increased by 959,000 in January.
• Short-term unemployment increased to 2.4 million, accounting for 37% of unemployed people. At the same time, the number of people counted as being long-term unemployed declined by 1.7 million, sharply lower that the 4 million who were long-term unemployed a year ago.

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