Economy & Business

Why it matters: After a record economic expansion, the coronavirus pandemic sent the U.S. economy into a recession as unemployment soared to staggering heights. The country now faces urgent questions about how much stimulus is needed for reeling consumers and businesses, and what a recovery might look like.

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Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 32,844,146 — Total deaths: 994,208 — Total recoveries: 22,715,726Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 7,078,798 — Total deaths: 204,497 — Total recoveries: 2,750,459 — Total tests: 100,492,536Map.
  3. States: New York daily cases top 1,000 for first time since June — U.S. reports over 55,000 new coronavirus cases.
  4. Health: The long-term pain of the mental health pandemicFewer than 10% of Americans have coronavirus antibodies.
  5. Business: Millions start new businesses in time of coronavirus.
  6. Education: Summer college enrollment offers a glimpse of COVID-19's effect.
12 hours ago - World

U.S. puts export restrictions on China's top chipmaker

Photo: Su Weizhong/VCG via Getty Images

The Trump administration put in place restrictions on U.S. technology exports to China's biggest chipmaker, Semiconductor Manufacturing International Corp., the WSJ reported Saturday.

Why it matters: The curbs are the latest restrictions issued by the Trump administration to limit China's efforts to compete in advanced technology, per WSJ.

Millions start new businesses in time of coronavirus

The pandemic closed hundreds of thousands of U.S. businesses. But now applications for new businesses are rising at the fastest rate since 2007, the Wall Street Journal reports.

Why it matters: "Applications for the employer identification numbers that entrepreneurs need to start a business have passed 3.2 million so far this year, compared with 2.7 million at the same point in 2019," according to the Census Bureau.

Bryan Walsh, author of Future
17 hours ago - Economy & Business

How COVID-19 reshapes the jobs of the future

Data: McKinsey; Table: Axios Visuals

A new survey of hundreds of executives shows how the pandemic is altering the workforce of the future.

The big picture: The COVID-19 pandemic has thrown millions of people out of work, and the jobs that will emerge from the carnage won't be the same. While some fields may benefit, others risk being left further behind.

Summer college enrollment offers a glimpse of COVID-19's effect

Student moves on campus. Photo: Mark Makela/Getty Images

Community college enrollment for the summer dropped nearly 6% since last year, along with declines in Black and male student enrollment in colleges and universities overall, a report from the National Student Clearinghouse Research Center reveals.

Why it matters: Colleges need students to survive. The data show how the coronavirus pandemic could be affecting the fiscal health of higher education institutions, including demographic shakeups.

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