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Walmart employee pushes grocery carts at a Walmart store. Photo: Joe Raedle/Getty Images

Amid a stagnating wages crisis, income volatility continues to be a top concern for workers.

Why it matters: This concern is spreading so rapidly that large employers like Walmart are looking for ways to help their employees better manage inconsistent income and personal finances. Walmart revealed on Thursday that more than 200,000 of its employees are now using Even, a system to help workers access their earned wages in between paychecks if they're short on cash for bills.

"What we quickly learned… is that [getting consistent income is] part of the problem and it’s not all of the problem... Income is part of it, but also what you do with that income."
— Even co-founder and CEO Jon Schlossberg tells Axios

This conclusion is why Even's app also includes features for budgeting, managing expenses, and saving money — all to make early withdrawal of earned wages a last-resort option for users.

  • Companies like Even also say they aim to be an alternative to payday loans, which come with exorbitantly high interest rates and can cause bigger financial problems.

The bottom line: Most American workers care more about having consistent pay than earning more, Tony Xu, CEO of food delivery startup DoorDash, said a year ago. DoorDash's delivery workers are independent contractors and part of the so-called "gig economy."

Go deeper: A look at Even, and similar services

Go deeper

Updated 3 hours ago - Energy & Environment

Bomb cyclone prompts blizzard warnings from Virginia to Maine

Computer model projection showing the intense storm off of Cape Cod on Jan 29, 2022, with heavy snow and strong winds lashing the coastline. (Weatherbell.com)

Blizzard warnings are in effect for 11 million people from coastal Virginia to eastern Maine as a historic winter storm is set to slam the Mid-Atlantic and Northeast beginning Friday.

Why it matters: The storm will bring hazards ranging from zero visibility amid hurricane force wind gusts and heavy snow, to coastal flooding that will erode vulnerable beaches and threaten property from the Jersey shore to coastal Massachusetts.

Updated 3 hours ago - Politics & Policy

Omicron dashboard

Illustration: Shoshana Gordon/Axios

  1. Health: Contact tracing fizzles across America — New clues emerge on long COVID — Omicron is finally burning out — It's very difficult to get access to antiviral COVID treatments — Axios-Ipsos poll: Omicron's big numbersAnother wave of death — FDA limits use of Regeneron and Lilly antibody treatments.
  2. Vaccines: Pfizer begins clinical trial for Omicron-specific vaccine — The shifting definition of fully vaccinated.
  3. Politics: Virginia AG says public colleges can't mandate COVID vaccines —Alaska governor joins Texas lawsuit over National Guard vaccine mandate — Navy discharges 45 sailors for refusing vaccine — Spotify to remove Neil Young's music after his Joe Rogan ultimatum — White House: 60M households have ordered free COVID-19 rapid tests.
  4. World: U.K. to lift travel testing requirement for fully vaccinated — Beijing Olympic Committee lowers testing threshold ahead of Games.
  5. Variant tracker
6 hours ago - World

Biden will move U.S. troops to Eastern Europe "in the near term"

President Biden boards Air Force One at Joint Base Andrews on Jan. 28. Photo: SAUL LOEB/AFP via Getty Images

President Biden said on Friday he plans to move U.S. troops to Eastern European and NATO countries “in the near term.”

Driving the news: “Not too many” U.S. troops, Biden added in remarks to reporters at Joint Base Andrew upon returning from a trip to Pennsylvania. 

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