Oct 10, 2017

A new gilded age

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Midwestern manufacturing improved in December but is still contracting

Data: ISM Chicago; Chart: Axios Visuals

The manufacturing industry in the Midwest continued to contract in December, but did exceed expectations and deliver the best reading in four months.

Why it matters: The Chicago PMI, which tracks manufacturing companies based in the Chicago region, continues to rebound from October's abysmal report that showed the weakest number in four years and the second lowest in a decade.

Go deeperArrowJan 2, 2020

Warren on economists criticizing her wealth tax: "They're just wrong"

Sen. Elizabeth Warren said at the Democratic debate Thursday that economists who claim her wealth tax proposal would stifle growth and investment are "just wrong."

Why it matters: Warren's riff on the wealth tax, in which she emphasized how "a two cent tax" on fortunes of $50 million and above, has become a core part of her stump speech.

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Keep ReadingArrowDec 20, 2019

Railroads cut workers as industry automates, implements cost-cutting strategies

Photo: Spencer Platt/Getty Images

More than 20,000 workers in the railroad industry lost jobs this past year, even as the U.S. economy continued its streak of moderate growth, the Washington Post reports.

Why it matters: Those numbers represent the biggest round of layoffs in the sector since the Great Recession — nearly a 10% drop in rail employment, per Labor Department data. Changes in the rail industry highlight signs of "ongoing pain" in the industrial sector, threatening middle-class jobs, the Post writes.

Go deeperArrowJan 4, 2020