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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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Data: U.S. Bureau of Labor Statistics; Chart: Andrew Witherspoon/Axios

The reality, incredibly, is worse than the data. Neil Irwin, N.Y. Times senior economics correspondent, captures one of the most sobering reasons: "Almost Every Job Is at Risk."

The big picture: "April 2020 — more technically, the period between the second week of March and the second week of April — was the worst month for American workers at least since the Great Depression and possibly in the history of the nation."

Why it matters to you, from Neil's piece: "...Walmart and a few odd exceptions aside, there was no shelter in the storm for American workers in the last month."

"Anyone still thinking that the pandemic’s economic effects are limited to people in restaurants, travel and similar service businesses is very much mistaken. Workers in almost every industry, including those that on the surface shouldn’t be affected by the pandemic at all, are at risk. We’re all vulnerable, whether we work in an office or a factory or a construction site; whether our employer is public or private; whether our work can easily be migrated to a home office or not."

Go deeper: The month we fell off a cliff

Go deeper

Dion Rabouin, author of Markets
Aug 7, 2020 - Economy & Business

Jobless claims show unemployment shifting, not falling

Data: Department of Labor; Chart: Andrew Witherspoon/Axios

Thursday's jobless claims report showed U.S. unemployment appears to be turning a corner, but it may not be the one those anxious for an economic recovery are hoping for.

What happening: Unadjusted initial jobless claims for the week ending Aug. 1 fell below 1 million for the first time in 20 weeks, while the number of people receiving traditional unemployment benefits fell below 16 million for the first time in 17 weeks for the week ending July 25. Continued claims are reported with a two week lag.

5 hours ago - Politics & Policy

Kellyanne Conway's parting power pointers

Kellyanne Conway addresses the 2020 Republican National Convention. Photo: Nicholas Kamm/AFP via Getty Images

Kellyanne Conway has seen power exercised as a pollster, campaign manager and senior counselor to President Trump. Now that his term in office has concluded, she shared her thoughts with Axios.

Why it matters: If there's a currency in this town, it's power, so we've asked several former Washington power brokers to share their best advice as a new administration and new Congress settle in.

5 hours ago - Politics & Policy

GOP holdouts press on with plans to crush Cheney

Screenshot of emails to a member of Congress from individuals who signed an Americans for Limited Government petition against Rep. Liz Cheney. Photo obtained by Axios

Pro-Trump holdouts in the House are forging ahead with an uphill campaign to oust Rep. Liz Cheney as head of the chamber's Republican caucus even though Minority Leader Kevin McCarthy told them to back down.

Why it matters: What happens next will be a test of McCarthy's party control and the sincerity of his opposition to the movement. Cheney (R-Wyo.) is seen as a potential leadership rival to the California Republican.

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