Omicron's Negative Impact on Economy May Be Fleeting [TheStreet.com]
IHS Markit Ltd. Common Shares (INFO)
Last ihs markit ltd. common shares earnings: 3/24 06:00 am
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Source: TheStreet.com
The Covid omicron strain is denting the economy this quarter, but the impact may not last too long, economists say.“There are so many potential ways that this could go,” Tara Sinclair, an economist at George Washington University,told The New York TimesIndividual companies may be struggling with worker outages, but The Times points out that initial unemployment claims haven’t risen much in recent weeks, and job postings on the career site Indeed haven’t slipped much from their all-time peaks.“It’s a vast difference from 2020, where there were mass layoffs,” Harvard economist Jason Furman, an adviser to President Barack Obama, told The Times. “Now employers are holding on to people because they expect to be in business in a month.”Meanwhile, though the IHS Markit composite purchasing managers index fell to an 18-month low of 50.8 in January from 57 in December, there were glimmers of hope in the report Monday.Customer demand remained strong among services industries, which indicates ac
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