The Labor Market: Putting Layoffs Into Perspective

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The labor market started the year with some unexpectedly great news. Not only was the first jobs report of the year strong; it was spectacularly good. In January, the U.S. labor market added 517,000 jobs. It was the largest gain in six months and signaled that many businesses remain confident in their hiring plans, despite the cloud of pessimism created by continued news of layoffs.

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