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Data: Morning Consult/Axios Inequality Index; Chart: Axios Visuals

Worries about job losses and/or having hours cut and losing income are decreasing across the board but inequality ticked up in May, according to the Morning Consult/Axios Inequality Index.

How it works: The values of the index answer the question, "How differently are U.S. adults with annual incomes below $50,000, between $50,000 and $100,000, and over $100,000 experiencing the economy?"

  • The higher the index value, the more differently adults across the income spectrum are experiencing the economy.

What happened: This data is based on survey respondents' answers to the question, "Do you expect that you will experience a loss of employment income in the next 4 weeks?"

How to read it: "The values are represented as standard deviation across income groups for the monthly averages for each, so the graph represents the differences among the income groups with regard to expectations of pay loss since April 2020," Morning Consult chief economist John Leer explains.

  • In essence, a higher number means worries of job or income loss are rising more for lower-paid workers than they are for those with higher wages.

The big picture: "Middle- and low-income workers finance most of their purchases, if not all of them, through wages from working, so getting the jobs recovery up and running is just going to be absolutely paramount, both for the economic recovery and for making sure that it’s broad-based."

Go deeper: Inequality decreased for most of 2021 but picked up in May, index shows

Go deeper

Dion Rabouin, author of Markets
May 25, 2021 - Economy & Business

Chicago Fed index shows U.S. economy struggling to lift off after March rebound

Data: Investing.com; Chart: Dion Rabouin/Axios Visuals

The Chicago Fed's National Activity Index showed the U.S. economy was growing above trend in April but had slowed significantly from March's big rebound, suggesting the economy is having a difficult time gaining traction for a sustained rebound.

By the numbers: April's 0.24 reading was down significantly from the 1.7 reading in March, which followed the first negative reading in almost a year for the index.

Updated 51 mins ago - Science

NTSB probes crash that killed 10 in Alabama as storm lashes Southeast

Flash-flooding in Bloomington, Indiana, on Saturday. Photo: Jeremy Hogan/SOPA Images/LightRocket via Getty Images

The National Transportation Safety Board announced Sunday that it's investigating a fiery multi-vehicle weekend crash in Alabama that killed 10 people, including nine children, as storms swept the Southeast.

The big picture: Saturday's crash on Interstate 65, south of Montgomery, occurred amid a tropical depression that left 13 people dead in Alabama as it triggered flash floods and spawned tornadoes that razed "dozens of homes," per AP.

Laurel Hubbard to become 1st openly trans athlete to compete at Olympics

New Zealand's Laurel Hubbard at the Gold Coast 2018 Commonwealth Games in Australia, when she became the first openly transgender athlete to represent NZ. Photo: Scott Barbour/Getty Images

The New Zealand Olympic Committee has announced that Laurel Hubbard has been selected for the women's weightlifting team for the Tokyo Games — making her the first openly transgender athlete to compete at the event.

The big picture: Hubbard, 43, is part of a five-member Kiwi weightlifting team and will compete in the women's super heavyweight category. Meanwhile, BMX rider Chelsea Wolfe will become the first openly trans athlete to travel to the Olympics with Team USA, when she arrives in Tokyo as a reserve rider.