Associated Builders and Contractors' 32nd annual National Craft Championships. Photo: Brittany Murray/MediaNews Group/Long Beach Press-Telegram via Getty Images

A new study from the Conference Board predicts corporate profits will decline this year. The group's economists say companies most at risk of profit declines are those that employ many blue-collar workers, "an increasingly scarce yet high-in-demand group."

The intrigue: The study specifically highlights companies in the manufacturing, food service and transportation industries, which are expected to see labor costs eat into profits as blue-collar workers' labor costs are rising much faster than for their highly educated white-collar counterparts.

"Education is the great equalizer, but today's labor market conditions have put a twist on that narrative. Now, with so many people attaining a conventional higher education, companies are having a harder time finding blue-collar workers than white-collar workers. This stark imbalance has helped boost the paychecks of blue-collar workers—and to such an extent that wage inequality has seen a modest decline.”
Gad Levanon, chief U.S. economist at The Conference Board, in a press release

Yes, but: As Axios' Courtenay Brown wrote last month, wages have been surprisingly sluggish throughout the 9-year recovery and finally started growing above 3% toward the end of last year. But they still haven't reached their pre-crisis levels and aren't anywhere close to catching up to soaring profits.

Go deeper: In a shift, Fed isn't slowing rising wages

Go deeper

Updated 11 mins ago - Politics & Policy

Mary Trump book: How she leaked Trump financials to NYT

Simon & Schuster

In her new memoir, President Trump's niece reveals how she leaked hordes of confidential Trump family financial documents to the New York Times in an effort to expose her uncle, whom she portrays as a dangerous sociopath.

Why it matters: Trump was furious when he found out recently that Mary Trump, a trained psychologist, would be publishing a tell-all memoir. And Trump's younger brother, Robert, tried and failed to block the publication of "Too Much and Never Enough: How My Family Created the World's Most Dangerous Man."

Updated 23 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Global: Total confirmed cases as of 3:30 p.m. ET: 11,691,068 — Total deaths: 540,062 — Total recoveries — 6,349,542Map.
  2. U.S.: Total confirmed cases as of 3:30 p.m. ET: 2,963,244 — Total deaths: 130,813 — Total recoveries: 924,148 — Total tested: 36,225,015Map.
  3. 2020: Biden releases plan to strengthen coronavirus supply chain.
  4. Congress: Trump administration notifies Congress of intent to withdraw from WHO.
  5. Public health: Fauci says it's a "false narrative" to take comfort in lower coronavirus death rate.
  6. World: Brazil's President Bolsonaro tests positive— India reports third-highest case count in the world.
43 mins ago - Health

Fauci: "False narrative" to take comfort in lower coronavirus death rate

Anthony Fauci testifies in Washington, D.C., on June 30. Photo: Al Drago/AFP via Getty Images

Anthony Fauci said at an event with Sen. Doug Jones (D-Ala.) on Tuesday "that it's a false narrative to take comfort in a lower rate of death" from the coronavirus in the U.S., warning: "There’s so many other things that are dangerous and bad about the virus. Don’t get into false complacency."

The big picture: The mean age of Americans currently being infected by the virus has declined by 15 years compared to where it stood several months ago. This has been one contributing factor in the lower death rate the U.S. has experienced during the recent surge in cases, since "the younger you are, the better you do, and the less likely you're gonna get seriously ill and die," Fauci said.