Data: Department of Labor; Chart: Neil Irwin/Axios The last time this few Americans were filing for unemployment benefits, Creedence Clearwater Revival topped the music charts , while "Butch Cassidy and the Sundance Kid" was the star of the box office. Driving the news: Only 187,000 people filed new claims for unemployment insurance benefits last week, pointing to an astoundingly low level of firings across the economy . It was the lowest since September 1969. - The labor force was much smaller then, too, so relative to the number of workers, this is easily the lowest number of jobless claims on record. Why it matters: There are plenty of gloomy warnings about the labor market, including that the proliferation of AI will lead to…
Data: Department of Labor; Chart: Neil Irwin/Axios The last time this few Americans were filing for unemployment benefits, Creedence Clearwater Revival topped the music charts , while "Butch Cassidy and the Sundance Kid" was the star of the box office. Driving the news: Only 187,000 people filed new claims for unemployment insurance benefits last week, pointing to an astoundingly low level of firings across the economy . It was the lowest since September 1969. - The labor force was much smaller then, too, so relative to the number of workers, this is easily the lowest number of jobless claims on record. Why it matters: There are plenty of gloomy warnings about the labor market, including that the proliferation of AI will lead to…Open
Senator Bill Cassidy, who is believed to hold the deciding vote in the Senate health committee for Dr. Erica Schwartz’s confirmation, had declined for days to say whether he would back her.
The Democratic National Committee is expanding its influencer program, partnering with more than 500 creators ahead of the midterms and the 2028 election.
Data: Federal Reserve Bank of St. Louis, U.S. Treasury Department; Chart: Courtenay Brown/Axios The relentless run-up in Treasury yields reflects the globe's new economic reality: It takes a much richer reward to persuade investors to lend their money, especially for the longer run. Why it matters: Unlike previous bond sell-offs driven by inflation fears, this one reflects a world in which governments and companies are scrambling for enormous amounts of capital to finance wide fiscal deficits, the AI infrastructure buildout and more. - The competition is forcing borrowers to pay more. - The good news is that inflation expectations appear to be in check, so the moves don't necessarily compel any immediate reaction from the Federal…
Data: Federal Reserve Bank of St. Louis, U.S. Treasury Department; Chart: Courtenay Brown/Axios The relentless run-up in Treasury yields reflects the globe's new economic reality: It takes a much richer reward to persuade investors to lend their money, especially for the longer run. Why it matters: Unlike previous bond sell-offs driven by inflation fears, this one reflects a world in which governments and companies are scrambling for enormous amounts of capital to finance wide fiscal deficits, the AI infrastructure buildout and more. - The competition is forcing borrowers to pay more. - The good news is that inflation expectations appear to be in check, so the moves don't necessarily compel any immediate reaction from the Federal…Open
Prime Minister Narendra Modi was busy trying to put out other fires when a student movement suddenly exploded. There are no easy solutions to the problems behind it.
More than two dozen states have sued the Trump administration after it required them to comply with election and immigration conditions to get billions of dollars in federal funding for disasters
West Virginia Republican Del. David Elliott Pritt was charged with sexual assault after investigators said he allegedly used Snapchat to engage with a teenage student.
For more than a year, the Trump administration pressed the university for records about antisemitism complaints and a list of campus groups involved with Judaism.