Jun 26, 2018

Schumer: Travel ban "does not make us any safer"

Chuck Schumer speaking on the Affordable Care Act. Photo: Aaron P. Bernstein/Getty Images

The Supreme Court's decision to uphold President Trump's travel ban "does not make us any safer," the Senate's top Democrat Chuck Schumer told reporters today.

The big picture: Trump's seven country travel ban was upheld by the Supreme Court on Tuesday with a 5-4 vote with some judges split between defending the policy and others saying it was essentially a ban on Muslims from the included countries.

Highlights: Schumer also condemned Trump's policies on immigration, including his zero tolerance policy, and called the president out for attempting to abolish the pre-existing condition clause in the Affordable Care Act.

  • On the ACA: Schumer said Trump is breaking "a campaign promise" to the American people by attempting to repeal the ACA through the removal of the pre-existing conditions clause.
    • Removing the pre-existing conditions clause is arguably the "cruelest act" the president has committed, he said.
  • On family separation policy: "I'm always glad when people are talking," Schumer said, but the president "could fix the issue on his own."

Go deeper

HBCUs are missing from the discussion on venture capital's diversity

Illustration: Eniola Odetunde/Axios

Venture capital is beginning a belated conversation about its dearth of black investors and support of black founders, but hasn't yet turned its attention to the trivial participation of historically black colleges and universities (HBCUs) as limited partners in funds.

Why it matters: This increases educational and economic inequality, as the vast majority of VC profits go to limited partners.

Unemployment rate falls to 13.3% in May

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. unemployment rate fell to 13.3% in May, with 2.5 million jobs gained, the government said on Friday.

Why it matters: The far better-than-expected numbers show a surprising improvement in the job market, which has been devastated by the coronavirus pandemic.

The difficulty of calculating the real unemployment rate

Data: U.S. Department of Labor; Note: Initial traditional state claims from the weeks of May 23 and 30, continuing traditional claims from May 23. Initial PUA claims from May 16, 23, and 30, continuing PUA and other programs from May 16; Chart: Andrew Witherspoon/Axios

The shocking May jobs report — with a decline in the unemployment rate to 13.3% and more than 2 million jobs added — destroyed expectations of a much worse economic picture.

Why it matters: Traditional economic reports have failed to keep up with the devastation of the coronavirus pandemic and have made it nearly impossible for researchers to determine the state of the U.S. labor market or the economy.