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Photo: DeAgostini/Getty Images

Amid the coronavirus pandemic, nearly one-third of apartment renters in the U.S. didn't make their April payments, according to numbers from the National Multifamily Housing Council and a group of real-estate data providers.

By the numbers: 69% of tenants paid some rent between April 1-5, down from 81% in the first week of March and 82% in April 2019.

The data comes from 13.4 million apartments analyzed by several real-estate data firms. People who only paid a portion of their rent were included among those who paid. The data does not count single-family homes, and the apartments tallied exclude public housing and subsidized affordable housing.

Why it matters: The numbers shed new light on the economic hardships the COVID-19 outbreak has brought on Americans. The due dates for most rental payments came the same week as a record 6.6 million people filed for unemployment — a number that eclipsed the 3.3 million who filed the preceding week.

The impact: Some renters will be temporarily protected from eviction for unpaid rent by a collection of federal and local laws.

  • But, but, but: Many real-estate analysts speculate that unpaid rent could snowball to cause commercial mortgage defaults, terminating investments in bonds backed by those mortgages, the Wall Street Journal notes.

Go deeper

1 hour ago - Health

Pfizer coronavirus vaccine safe, effective in children, company says

Photo by Mario Tama/Getty Images

Pfizer and BioNTech's coronavirus vaccine is safe and effective in children ages 5 to 11, albeit at a lower dose than adults receive, the companies said in a press release announcing results from a pediatric trial.

Why it matters: The trial results are a much-needed source of hope for families with elementary school-aged children, who currently aren't eligible for a vaccine.

The pandemic made our workweeks longer

Illustration: Annelise Capossela/Axios

The average American's workweek has gotten 10% longer during the pandemic, according to a new Microsoft study published in Nature Human Behaviour.

Why it matters: These longer hours are a key part of the pandemic-induced crisis of burnout at U.S. firms — and workers are quitting in droves.

Mike Allen, author of AM
2 hours ago - Economy & Business

Airbnb CEO Brian Chesky to herald "travel revolution"

Expand chart
Data: TSA. Chart: Jared Whalen/Axios

Airbnb CEO Brian Chesky will argue this week that the world is undergoing a "travel revolution," in which some parts of the industry stay shrunk but the sector ultimately comes back "bigger than ever."

Why it matters: Chesky, who faced the abyss when the world shut down last year, foresees a significant shift in how people move around, with more intentional gatherings of family, friends and colleagues — even if routine business travel is never what it once was.