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“ declined to 53% [39–65] after 4 months”

So 1 of every 2 people with the vaccine are essentially unvaccinated.

No, they are not. They still have protection from disease but they may get infected.
No. It means that every vaccinated person has a 53% reduction in their chance of catching covid-19.

More importantly, this study found that after 6 months, protection against being hospitalized was still very high (93%). So, while vaccinated people may spread it, they're very unlikely to end up in the hospital or die from it.

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