Ask the Joes®

Q: We don’t hear much about employment these days. What is the situation there?

A: ADP provides an employment report that paints a negative picture for January. It’s usually a pretty good indication of what the overall employment situation is, so Friday’s report will probably be poor. In fact, by the time you read this the report will likely be available.
Brad McMillan explains that it is hard to know the exact cause of this decline, but that Covid-related quarantines are almost certainly involved. He also predicts a bounce back in February, given the short-term impact that the Omicron wave seems to have.