Mar 16, 2017

Jessica Alba's Honest Company names Clorox veteran as new CEO

Honest Company, the maker of green cleaning and baby care products co-founded by actress Jessica Alba, has named former Clorox COO Nick Vlahos as its new CEO. Vlahos is replacing co-founder Brian Lee, who will remain on the company's board and as an advisor.

Lee, who previously founded ShoeDazzle and LegalZoom, is the third departure from the management team. In December, president and co-founder Sean Kane and CFO David Parker stepped down.

Why it matters: Though Honest Company, which sells its products online and through retailers like Target, reached $300 million in sales last year, it also faced several lawsuits over chemicals in some of its products and closed its Austin office. There were also rumors that the company was in talks last year to sell to Unilever, which instead acquired Seventh Generation, another maker of eco-friendly cleaning products.

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Unemployment rate falls to 13.3% in May

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. unemployment rate fell to 13.3% in May, with 2.5 million jobs gained, the government said on Friday.

Why it matters: The far better-than-expected numbers show a surprising improvement in the job market, which has been devastated by the coronavirus pandemic.

The difficulty of calculating the real unemployment rate

Data: U.S. Department of Labor; Note: Initial traditional state claims from the weeks of May 23 and 30, continuing traditional claims from May 23. Initial PUA claims from May 16, 23, and 30, continuing PUA and other programs from May 16; Chart: Andrew Witherspoon/Axios

The shocking May jobs report — with a decline in the unemployment rate to 13.3% and more than 2 million jobs added — destroyed expectations of a much worse economic picture.

Why it matters: Traditional economic reports have failed to keep up with the devastation of the coronavirus pandemic and have made it nearly impossible for researchers to determine the state of the U.S. labor market or the economy.

2 hours ago - Sports

How coronavirus could reshuffle the sports calendar

Illustration: Eniola Odetunde/Axios

The NBA's Board of Governors approved Thursday the league's 22-team plan to resume play at Walt Disney World — a plan that also includes tentative dates for both this season and next.

Why it matters: The league's proposed trip to Disney World not only impacts this season but could have a domino effect that impacts seasons in the future — and could permanently change what time of year the NBA plays its games.