Jun 5, 2020

Axios PM

By Mike Allen
Mike Allen

Good afternoon: Today's PM — edited by Justin Green — is 425 words, a 2-minute read.

Situational awareness: Minneapolis has agreed to ban the use of police chokeholds and will require nearby officers to act to stop them in the wake of George Floyd's death.

1 big thing: New glimmer of hope

Today's jobs numbers were a legitimately shocking surprise.

Why it matters: May's unemployment rate fell to 13.3% vs. an expected climb to around 20%, Axios' Courtenay Brown reports.

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The big picture: The chart above shows the coronavirus' economic crater.

  • 2.5 million new jobs in a month is the best month of job growth in U.S. history, but it pales in contrast to April, which was the worst month of job losses in U.S. history.

By the numbers: The leisure and hospitality sector gained the most jobs last month: 1.2 million, after losing 7.5 million in April.

  • Government saw the biggest shedding of jobs (585,000).

Between the lines: 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, Axios' Dion Rabouin reported.

  • Data shows more than 37 million applied for or were receiving some form of unemployment benefits as of May 30, meaning the unemployment rate was likely significantly higher.

The bottom line: A return to pre-pandemic rates of joblessness is expected to take a long time.

  • "It will take years, probably a decade, to get back to where we were at the end of last year," Sung Won Sohn, a Loyola Marymount University professor told Reuters.
2. D.C.'s messages for Trump
Screenshot: Twitter

Above: The District of Columbia painted "Black Lives Matter" on 16th Street near to the White House. (Video)

Below: D.C. Mayor Muriel Bowser's letter to President Trump, dated yesterday, demanding he withdraw federal personnel.

3. Catch up quick
  1. The White House Correspondents' Association said that the White House "needlessly put reporters' health at risk" by moving chairs closer together for President Trump's Rose Garden event. Go deeper.
  2. Reddit co-founder Alexis Ohanian is resigning from the board of the company he helped create, and requesting that a black candidate take his seat. Go deeper.
  3. NAACP President Derrick Johnson called for a federal policy requiring complete transparency for law enforcement and any disciplinary actions against the bad actors. Go deeper.
  4. Sports website The Athletic is laying off nearly 8% of staff, in addition to making pay cuts across the company. Go deeper.
4. 1 last thing
Screenshot: ABC

Today would have been Breonna Taylor's 27th birthday.

  • Taylor, a first responder, was killed in March by Louisville, Ky., police officers who entered her home on a no-knock warrant.
  • None of the three officers involved in her shooting have been charged with a crime.

"She was an essential worker murdered by the police while she was sleeping," said Alicia Keys, who tweeted a video of herself singing happy birthday to Taylor.

  • "She should be alive to celebrate! But instead no charges have been issued and no arrests have been made with the officers involved."

Go deeper: ABC's "Good Morning America" on Taylor's life and legacy

Mike Allen