Jan 20, 2019

There's a lot more slack in the American labor market

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Data: Organization for Economic Cooperation and Development; Chart: Chris Canipe/Axios

This chart was inspired by the wonderful FRED blog, and it shows a lot more slack in the American labor market than the record-low unemployment rate would suggest.

The bottom line: America hasn't run out of workers, not even close. Unemployment might be low, but employment could rise significantly from its current levels.

  • If you're a working-age American, you're less likely to have a job now than you were pre-crisis. And you were significantly less likely to have a job pre-crisis than you were during the Clinton boom of the late 199os.
  • The equivalent numbers in Japan show that this isn't a story of demographic inevitability. More working-age Japanese have jobs today than at any point in the country's history. Today's employment rate in Japan is also significantly higher than the employment rate at any point in American history.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 766,336 — Total deaths: 36,873 — Total recoveries: 160,001.
  2. U.S.: Leads the world in confirmed cases. Total confirmed cases as of 3 p.m. ET: 153,246 — Total deaths: 2,828 — Total recoveries: 5,545.
  3. Federal government latest: The White House will extend its social distancing guidelines until April 30 — Rep. Nydia Velázquez diagnosed with "presumed" coronavirus infection.
  4. State updates: Virginia and Maryland issued stay-at-home orders to residents, joining 28 other states — Florida megachurch pastor arrested for refusing to call off mass services.
  5. World updates: Spain's cases exceed China's — Italy reports 1,590 recoveries from the virus, its highest ever.
  6. In photos: Navy hospital ship arrives in Manhattan
  7. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Cuomo: Engaging in politics during coronavirus crisis is "anti-American"

New York Gov. Andrew Cuomo said during a Monday press briefing that he won't get into a political tussle with President Trump — calling it "counterproductive" and "anti-American" — as his state deals with the most confirmed coronavirus cases in the country.

The backdrop: Trump said during an appearance on "Fox & Friends" earlier Monday that Cuomo has received high polling numbers during the outbreak because New York has received federal aid.

Maryland and Virginia issue coronavirus stay-at-home orders

Data: Axios reporting; Map: Danielle Alberti/Axios

Maryland Gov. Larry Hogan and Virginia Gov. Ralph Northam issued stay-at-home orders on Monday, with exceptions for residents engaged in essential services, including health care and government functions.

The big picture: The states are the latest to announce policies to enforce social distancing, which have affected almost 250 million Americans. More than 1.5 billion people worldwide had been asked to stay home as of last week.

Go deeperArrowUpdated 2 hours ago - Health