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Photo: Robyn Beck/AFP via Getty Images

A group of ride-hailing drivers and the Service Employees International Union have filed a lawsuit to challenge the constitutionality of Proposition 22, the ballot measure recently passed in California that enshrines drivers as independent contractors (with some benefits).

Why it matters: Prop. 22 was a response from gig companies to AB5, a state law that went into effect last January, and put in place stricter requirements for classifying workers as contractors. Having drivers as contractors instead of employees (with full benefits) is central to these companies' business models, prompting their aggressive action to eschew AB5.

  • The plaintiffs argue that Prop. 22 violates the state constitution by stripping the legislature from enabling workers to organize, and excluding ride-hail drivers from the state workers’ compensation program.

Go deeper: Deep dive on the gig economy

Go deeper

Unemployment filings explode again as pandemic slams job market

Volunteers distribute meals at a food bank in Pennsylvania last month. (Photo: Ben Hasty/MediaNews Group/Reading Eagle via Getty Images)

More than 1.4 million Americans filed for jobless claims last week — a figure that includes first-time filings for regular state unemployment and another program for non-traditional workers.

Why it matters: It’s another surge in the number of Americans applying for unemployment benefits, an additional sign the labor market is facing more strain as the coronavirus continues to ravage the country.

Dion Rabouin, author of Markets
2 mins ago - Economy & Business

First glimpse of the Biden market

Photo: Jonathan Ernst-Pool/Getty Images

Investors made clear what companies they think will be winners and which will be losers in President Joe Biden's economy on Wednesday, selling out of gun makers, pot purveyors, private prison operators and payday lenders, and buying up gambling, gaming, beer stocks and Big Tech.

What happened: Private prison operator CoreCivic and private prison REIT Geo fell by 7.8% and 4.1%, respectively, while marijuana ETF MJ dropped 2% and payday lenders World Acceptance and EZCorp each fell by more than 1%.

Mike Allen, author of AM
33 mins ago - Politics & Policy

Biden-Harris, Day 1: What mattered most

President Joe Biden and first lady Dr. Jill Biden arrive at the North Portico of the White House. Photo: Alex Brandon-Pool/Getty Images

The Axios experts help you sort significance from symbolism. Here are the six Day 1 actions by President Biden that matter most.

Driving the news: Today, on his first full day, Biden translates his promise of a stronger federal response to the pandemic into action — starting with 10 executive orders and other directives, Caitlin Owens writes.