Commuters walk from the G train line to the E and M lines at the Court Square subway station in Queens. Photo: Victor J. Blue / Bloomberg via Getty Images

Cities with some of the lowest unemployment rates are also now experiencing some of the greatest wage growth in the country, the WSJ reports. Employers are raising wages to attract employees from competitors, like in Minneapolis, Denver, and Fort Myers, where unemployment rate are at or near 3%.

Why it matters: It's a phenomenon that makes sense and is expected in theory, "but one that's been largely absent until now in the upturn that began more than eight years ago," WSJ's Shayndi Raice and Eric Morath write.

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U.S. Chamber of Commerce warns of racial inequality for small businesses

Illustration: Aïda Amer/Axios

Attitudes and beliefs about racial inequality are changing quickly as protests and media attention have helped highlight the gaps in opportunity between white- and minority-owned businesses in the United States.

Driving the news: A new survey from the U.S. Chamber of Commerce and MetLife provided early to Axios shows a 17-point increase in the number of small business owners who say minority-owned small businesses face more challenges than non-minority-owned ones.

BP's in the red, slashing its dividend and vowing a greener future

Photo: Ben Stansall/AFP via Getty Images

BP posted a $6.7 billion second-quarter loss and cut its dividend in half Tuesday while unveiling accelerated steps to transition its portfolio toward low-carbon sources.

Why it matters: The announcement adds new targets and details to its February vow to become a "net-zero" emissions company by mid-century.

Women-focused non-profit newsrooms surge forward in 2020

Illustration: Eniola Odetunde/Axios

Women are pushing back against the gender imbalance in media by launching their own news nonprofits and focusing on topics many traditional news companies have long ignored.

Why it matters: "The news business is already gendered," says Emily Ramshaw, co-founder and CEO of The 19th*, a new nonprofit, nonpartisan newsroom reporting at the intersection of women, politics and policy.