Economists expected jobs growth to decelerate because of inflation. Instead employment surged ahead with an addition of more than half a million jobs (517,000) in January. Wow. The job report is the best in years.
According to the Labor Department’s latest jobs report, leisure and hospitality added 128,000 workers in January. The service industry helped keep the unemployment rate at a 53-year low. The unemployment rate hit an ultra-low 3.4%.
Drugmaker Eli Lilly announced that it will cap the cost of insulin at $35 a month. Congress imposed the $35 cap for Medicare recipients with the Inflation Reduction Act. The free market followed.
The Journal of the American College of Cardiology published a study indicating COVID-19 vaccination is linked to fewer heart attacks, strokes, and other cardiovascular issues among previously infected adults.