Apr 2, 2019

Kamala Harris raises $12 million from 218,000 individual donors in Q1

Democratic presidential candidate Kamala Harris announced Monday that she raised $12 million from more than 218,000 individual contributions in the first quarter of 2019.

The big picture: Harris, who raised $1.5 million in the first 24 hours after launching the campaign, announced her new totals one day after the Federal Election Commission's first quarter fundraising deadline. 98% of Harris' donations were under $100, with the average online contribution coming in at $28. Harris also said she received more than 11,000 individual contributions from teachers, after unveiling a plan last week to give the average teacher a $13,500 raise.

Go deeper: Everything you need to know about 2020 candidate Kamala Harris

Go deeper

HBCUs are missing from the discussion on venture capital's diversity

Illustration: Eniola Odetunde/Axios

Venture capital is beginning a belated conversation about its dearth of black investors and support of black founders, but hasn't yet turned its attention to the trivial participation of historically black colleges and universities (HBCUs) as limited partners in funds.

Why it matters: This increases educational and economic inequality, as the vast majority of VC profits go to limited partners.

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.