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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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A Smithfield pork processing plant in Sioux Falls, S.D., is the largest single hotspot of coronavirus cases in the U.S., according to the New York Times.

Why it matters: At least 644 cases of the virus have been traced back to the plant, and its sick employees make up around 44% of the state's diagnoses.

  • The plant, which accounts for 4–5% of all pork production in the U.S. and employs approximately 3,700 workers, closed last week.
  • Many of Smithfield's employees are non-English speaking immigrants, though Sioux Falls Mayor Paul TenHaken said hospitals in the city have translators that can help screen patients, the Sioux Falls Argus Leader reports.

The big picture: Researchers from the Centers for Disease Control and Prevention have traveled to the city to assess how the outbreak spiraled out of control.

  • Sioux Falls is the state's largest city with a population of around 190,750.
  • Despite the outbreak, South Dakota Gov. Kristi Noem has refused to order residents to stay at home, NBC reports.
  • The plant was staffed with essential workers, so a stay-at-home order would not necessarily have prevented the outbreak at the plant.
  • The South Dakota Department of Health coronavirus models project that 30% of the state’s population is expected to contract the virus, the Leader reports.

The state has so far reported 1,168 cases and 6 deaths from the virus, according to Johns Hopkins University data.

Go deeper: The coronavirus chain reaction

Go deeper

Erica Pandey, author of @Work
24 mins ago - Economy & Business

What's really going on with the labor market

Source: YCharts

The labor market is showing some signs of improvement: Jobless claims fell to 730,000 — a dramatic drop from 841,000 the previous week. And the latest jobs report showed a pandemic-era low unemployment rate of 6.3%

But, but, but: That's not the full story, experts say.

Felix Salmon, author of Capital
33 mins ago - Economy & Business

Markets see rare convergence milestone

Expand chart
Data: YCharts; Chart: Axios Visuals

A milestone was reached in the markets Thursday: The yield on the 10-year Treasury note rose to match the dividend yield on the S&P 500

Why it matters: The two yields have been inverted since the beginning of last year, which is historically unusual.

Mike Allen, author of AM
1 hour ago - Economy & Business

First look: Business puts muscle behind Biden

Business Roundtable, the voice of America's top CEOs, today launched "Move the Needle," a campaign to support President Biden in rolling out COVID vaccines, increasing vaccine uptake and encouraging masks.

What they're saying: "Masks and vaccines are working. Now is the time to keep at it, overcome pandemic fatigue, and double down on the measures that will end this public health and economic crisis, said Business Roundtable president and CEO Josh Bolten.