Nov 29, 2018

Dick's Sporting Goods sees sales fall after tougher gun policies

Photo: Robyn Beck/AFP/Getty Images

Dick's Sporting Goods saw its in-store and online sales fall 3.9% in the quarter ending Nov. 3, driven by losses in its hunting and electronics departments, per the Wall Street Journal.

Why it matters: The chain announced a change in its firearm sales policies earlier this year after the Parkland shooting that included ending the sale of high-capacity magazine sales and assault-style rifle sales as well as a ban on firearms sales to people under 21 years old. Dick's executives attributed the decline to both the new policy and the fact that a general slowdown in gun sales tends to occur under Republican presidents.

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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.

2 hours ago - Sports

How coronavirus could reshuffle the sports calendar

Illustration: Eniola Odetunde/Axios

The NBA's Board of Governors approved Thursday the league's 22-team plan to resume play at Walt Disney World — a plan that also includes tentative dates for both this season and next.

Why it matters: The league's proposed trip to Disney World not only impacts this season but could have a domino effect that impacts seasons in the future — and could permanently change what time of year the NBA plays its games.