US Ads 467,000 Jobs Despite Omicron

    Image copyright: Getty Image [via The Wall Street Journal]

    The Facts

    • The US Dept. of Labor has reported 467,000 new jobs in Jan. despite Omicron. Also, 709,000 more jobs than previously estimated were reportedly created in Nov. and Dec.

    • Employment is still almost 3M below the pre-pandemic peak.

    The Spin

    Narrative A

    The report indicates a strong and sustained economic recovery from the downturn caused by the pandemic. Even the lowest paid workers have benefited from improved job security.

    Narrative B

    These statistics are part of a broader and more complex picture of economic health and should be treated tentatively. Even if every job loss since the pandemic were recouped, full economic recovery would not be inevitable.

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