Opis
⋅ Strong ADP jobs report showing 807K jobs vs 400K expectations.
The main jobs report is on Friday (1/7//22), and I expect us to beat the 400K expectations and report ~570K jobs.
Hopefully Omicron doesn't make the return of employment drag out more.
Rolling 2Y correlation between the two around 70% after normalizing for COVID volatility in 2020.