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Leisure & Hospitality employment continues to grow but remains the only sector still below its pre-pandemic employment level. The labor market has been running hot for several months; but it is uncertain when increasing wage gains are going to have a dampening effect on employment.
The January employment figures along with the revisions in December and November portray a labor market that is healthier than thought on first examination.
A welcome change from the previous two months, the expected job growth acceleration was somewhat higher than forecast by multiple outlets.