Private payrolls fell by 301K in January vs the expected 200K gain, according to ADP. The drop is blamed on the Omicron variant’s spread.

The core personal consumption expenditures price index, an inflation gauge watched closely by the Fed, rose 4.9% year over year in December.

Job openings totaled nearly 11 million in December, more than 4.6 million above the total unemployment level, according to the Labor Department.

Although housing inventory remains tight, single-family housing starts reached 1.123 million last year, the highest level since 2006.

Newly built homes made up more than one-third of homes for sale in December, the highest share on record, according to Redfin.

Purchase applications were up 4% last week, while refi applications jumped 18% for the week. Both were still lower than a year ago.