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The World Economic Forum's annual Global Gender Gap Report released on Oct. 25, 2016, found that the global gender pay gap will not be closed for another 170 years if current trends continue. Photo: Jessica Hill / AP

Steve Rattner, in one of his famous charts for "Morning Joe," uses new Census Bureau data to show women closing the pay gap with men last year by the largest amount since 2007.

"The female to male earnings ratio reached 80.5%, the highest ever. However, the gap was closed both by women earning more and men earning less. In dollar terms, the typical man earned $51,640 last year; the average woman received $41,554."

P.S. N.Y. Times Quote of the Day: James Freeman, the founder of Blue Bottle Coffee, about the prospect of going public in a stock offering (instead, the company was acquired by Nestlé): "Everything that I've seen and read, it seems like a way of living in hell without dying."

Go deeper

2 hours ago - Health

U.S. surpasses 25 million COVID cases

A mass COVID-19 vaccination site at Dodger Stadium on Jan. 22 in Los Angeles, California. Photo: Mario Tama/Getty Images

The U.S has confirmed more than 25 million coronavirus cases, per Johns Hopkins data updated on Sunday.

The big picture: President Biden has said he expects the country's death toll to exceed 500,000 people by next month, as the rate of deaths due to the virus continues to escalate.

GOP implosion: Trump threats, payback

Spotted last week on a work van in Evansville, Ind. Photo: Sam Owens/The Evansville Courier & Press via Reuters

The GOP is getting torn apart by a spreading revolt against party leaders for failing to stand up for former President Trump and punish his critics.

Why it matters: Republican leaders suffered a nightmarish two months in Washington. Outside the nation’s capital, it's even worse.

Erica Pandey, author of @Work
6 hours ago - Economy & Business

The limits of Biden's plan to cancel student debt

Data: New York Fed Consumer Credit Panel/Equifax; Chart: Axios Visuals

There’s a growing consensus among Americans who want President Biden to cancel student debt — but addressing the ballooning debt burden is much more complicated than it seems.

Why it matters: Student debt is stopping millions of Americans from buying homes, buying cars and starting families. And the crisis is rapidly getting worse.