Sep 10, 2019

Axios PM

By Mike Allen
Mike Allen

Good afternoon: Today's PM — edited by Justin Green — is 509 words, a 2 minute read.

Situational awareness: John Bolton is out as national security adviser. President Trump said on Twitter he'll name Bolton's replacement next week.

  • Trump was furious about Bolton's disapproval of plans to host the Taliban at Camp David, as well as accounts in the press suggesting internal disagreements, two administration officials tell Axios' Alayna Treene and Margaret Talev.
1 big thing: The census numbers that matter

Illustration: Sarah Grillo/Axios

Today's Census Bureau data gives a revealing peek at the late stages of the Great Recovery:

  1. Poverty is dropping: The number of people living in poverty fell by 1.4 million.
  2. But 2 million fewer people have health insurance: It's the first time the uninsured rate has gone up since the Affordable Care Act has been in effect, Axios' Bob Herman notes.
  3. And median income is growing, but slowly: Solid gains in household incomes over the past four years have returned the median only to where it was two decades ago. [AP]

Why it matters: The percentage of Americans worried about losing their jobs is rising, Axios' writer Dion Rabouin noted in his Markets newsletter.

  • Job cuts have been higher every month this year than the corresponding months in 2018, and last month’s job cuts were the highest August total since 2009.

The other side: Minorities in their prime working age (25 to 54) have gained at least 4.5 million new jobs since 2016, while the same can be said for only 700,000 white workers, the Washington Post reports.

  • Cautionary note: "We’ve seen a lot of gains in employment among lower-income and lower-education groups ... but it is precisely those groups that are vulnerable to layoffs if economic activity slows," Marianne Wanamaker, an economist and former member of Trump’s Council of Economic Advisers, told the Post.

The bottom line: The economy might have recovered from recession, but it's increasingly clear that its youngest workers aren't ready for another one.

Bonus: Pic du jour
Photo: Michael Ciaglo/Getty Images

Sen. Bernie Sanders speaks at a rally in front of the Colorado State Capitol in Denver.

2. What you missed
  1. Israeli Prime Minister Benjamin Netanyahu announced his intention to promote annexation steps in the occupied West Bank, including the Jordan Valley and areas north of the Dead Sea, if he wins next week's elections. Go deeper.
  2. Apple debuted its latest iPhones, including a high-end iPhone 11 Pro model with three rear cameras and a mid-range iPhone 11 starting at $699. Go deeper.
  3. A 6th person has died from a lung-related illness linked to vaping, reports the Washington Post.
  4. Uber is laying off 435 employees (about 8%) from its engineering and product units, as TechCrunch first reported and Uber confirmed to Axios.
  5. 🎧 Axios' Dan Primack speaks with GOP presidential candidate Joe Walsh about canceled GOP primaries, his racist tweets, and what caused him to break with Trump. Listen here.
3. 1 🌮 thing

Texas Monthly is adding a taco editor, the first masthead position of its kind and possibly the best job in America:

  • Dallas-based José Ralat "began writing about tacos professionally a decade ago ... He has written for national and regional media outlets and most recently served as food & drink editor for Cowboys & Indians magazine. He also cofounded and curated the Taco Libre taco and music festival in Dallas."
  • Flashback: Texas Monthly hired Daniel Vaughn in 2013 to become the nation's first BBQ editor.

What's next: Chicken fried steak editor, or kolaches editor?

Mike Allen