Dec 23, 2018

U.S. manufacturing jobs return to 1941 levels

Photo: Waring Abbott via Getty Images

The number of U.S. manufacturing jobs is up from the trough of the financial crash, but they are still only back to where they were in 1941, when the population was less than half of today's.

The big picture: There were 12.8 million manufacturing jobs as of October, up from the 11.4 million in March 2010, the nadir of the financial crash, according to the St. Louis Fed. But they are still a shadow of their modern 19.4 million-job peak in 1979, and right about where they were in October 1941, when the U.S. population was 133 million, 40% of today's.

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The business of tear gas

Illustration: Eniola Odetunde/Axios

U.S. forces yesterday used tear gas on peaceful protesters outside the White House gates, prior to a declared curfew, clearing a path for President Trump to visit a riot-damaged church for a photo opportunity.

The state of play: Two of the largest U.S. producers of tear gas are owned by private equity firms, but those firms have no interest in discussing their ownership.

Cerebus sells control of Steward Health Care back to company

Illustration: Aïda Amer/Axios

Cerberus Capital Management has agreed to sell control of community hospital group Steward Health Care back to the company, as first reported by the New York Times and confirmed by Axios.

Why it matters: This would make Steward one of the country's largest physician-owned and operated companies. It also marks the end of a 10-year ownership period for Cerberus, which was most recently marked by threats to shutter a Pennsylvania hospital in March, despite the pandemic, if the facility didn't receive state bailout funds.

Exclusive: Washington Post makes major move into local news

People entering the Washington Post building in D.C. in 2019. Photo: Eric Baradat/AFP via Getty Images

The Washington Post has signed all 30 of McClatchy's local news outlets to its Zeus Performance product, a software that gives sites better speed, ad view-ability and performance, executives tell Axios.

Why it matters: By adding more local news outlets, The Post can start to build a local news ecosystem within its tech stack.