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Farmer Terry Davidson walks through his soy fields in Harvard, Illinois. Photo: Nova Safo/AFP/Getty Images

U.S. farmers in the Midwest are filing for bankruptcy at levels the U.S. hasn’t seen for approximately a decade, the Wall Street Journal reports.

What's happening: Low commodity prices have been gouging U.S. farmers’ bottom lines for years now, exacerbated by increasing agricultural competition from Russia and Brazil. President Trump’s trade disputes, meanwhile, are adding salt to the wounds, as tariffs drive down prices and decrease profit for farmers.

By the numbers:

  • In the 7th Circuit Court of Appeals, which includes Illinois, Indiana and Wisconsin, twice as many farmers declared bankruptcy in 2018 as during the 2008 recession.
  • In the 8th Circuit, which spans from North Dakota to Arkansas, bankruptcies shot up 96%.
  • In the 10th Circuit, which includes Kansas, Colorado and parts of Oklahoma, bankruptcies were up 59%. Together, these three jurisdictions accounted for nearly 50% of all farm product sales in 2017, per the Journal.
  • Last year, farm debt rose to over $409 billion, with the average size of loans in the 4th quarter reaching $74,190, the highest 4th quarter level in history.

Between the lines: Chapter 12 bankruptcy filings are still below the highs of 2010 when looking at nationwide numbers. But the Midwest is hurting, and even though the Trump administration has been rolling out federal government relief for farmers to make up for tariff damage, lawmakers from both sides of the aisle fear it is only a short-term, partial solution.

Go deeper

Distrust in political, media and business leaders sweeps the globe

Illustration: Sarah Grillo/Axios

Trust in government is collapsing, especially in democracies, according to a new global survey.

Why it matters: People also don't think media or business leaders are telling them the truth, and this suspicion of multiple societal institutions is pushing people into smaller, more insular circles of trust.

Great Resignation boosts White House's tech talent hunt

Illustration: Aïda Amer/Axios

The Biden administration wants to capitalize on the Great Resignation to fill thousands of expected government tech and cybersecurity jobs.

Why it matters: The administration wants to remake how government websites deliver services and improve the nation's cybersecurity, but it will need skilled workers to make it happen.

The hot and not-so-hot job growth centers

Expand chart
Data: Indeed; Chart: Baidi Wang/Axios

Job openings have been roaring back across the country, but some metro areas are significantly hotter than others, per a new report from the jobs site Indeed.

Why it matters: Tracking growth in different cities gives us insight into how the pandemic is changing the geography of jobs.