Hadn't seen that link posted, but have been following that data and it supports why we haven't seen much of a surge in hospitalizations even after the latest subvariant of omicron has pretty much pushed the last one out.
As testing is too low, the case count here is pretty much bunk:
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However, hospitalization data can be accepted more easily as legitimate:
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And though there is the slightest upward trend in hospitalizations, quite a large number of those cases in the hospital are likely individuals who tested positive at the hospital with covid but were likely not in the hospital for covid symptoms. Hospital systems in many areas of the country aren't even bothering with isolation of covid patients from non covid any longer.
The large volume of immunity that resulted after the winter omicron surge certainly has had a beneficial impact on the current situation.