Maybe it’s a sign of the times: The economy is bipolar. The new jobs numbers released Friday morning showed extraordinary strength in the job market and the index of leading economic indicators in January, released Thursday morning, experienced a decline for the eighth straight month, signaling a recession is coming in 2023.  

Despite significant bad news in the form of yet another bad month for the LEI in January and experiencing a sharp decline of eight-tenths of 1%, the explosive number of new job figures for January make a recession unlikely.