Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

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

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

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!
Data: Challenger, Gray & Christmas, Inc.; Table: Axios Visuals

Even after the financial crisis, the annual number of newsroom layoffs won't come close what we're expected to see this year during the coronavirus pandemic, according to new data from Challenger, Gray & Christmas, Inc.

By the numbers: In the first 6 months of 2020, more than 11,000 newsroom jobs have been lost. That's nearly as many as were lost in all of 2009.

Why it matters: It could take years for the industry to recover from the thousands of lost jobs and cuts.

  • And it will ultimately push thousands of talented journalists out of the industry, many for good.

Driving the news: A slew of media organizations last week announced that previously-announced laid off staffers would be officially laid off.

  • McClatchy laid off 85 furloughed staffers last week, most in advertising.
  • The Guardian laid off 180 people, including 70 people in editorial.
  • BBC laid off 70 people last week, adding to the hundreds of job cuts its already made.
  • Vox Media laid off 72 furloughed staffers last week.

What's next: It's not going to end there. Sources tell The New York Post that broad-based layoffs are headed for NBCUniversal.

Go deeper: No media publisher is immune in the coronavirus era

Go deeper

Dion Rabouin, author of Markets
Oct 5, 2020 - Economy & Business

Long-term unemployment's V-shaped bounce

Expand chart
Data: U.S. Bureau of Labor Statistics; Chart: Axios Visuals

The number of people considered long-term unemployed has made a worrying bounce in recent months, as Friday's jobs report showed 3.8 million people had lost their jobs permanently in September.

Why it matters: That's almost twice as many as at the height of the pandemic in April.

The media’s 2020 moment

White House press secretary Kayleigh McEnany briefs the media Thursday. Photo: Saul Loeb/AFP via Getty Images

It's easy to dog the media. But stop for a second and reflect on everything we know thanks to the media — and often the media alone.

Driving the news: It was the media that gave light to the negligence of White House officials in containing the coronavirus. It was Bloomberg's Jennifer Jacobs who revealed Hope Hicks' positive test, with President Trump disclosing five hours later that he and the first lady had COVID.

Ben Geman, author of Generate
Oct 5, 2020 - Energy & Environment

The oil industry is facing a long jobs slump

Illustration: Aïda Amer/Axios

The oil, gas and chemicals industry shed 107,000 U.S. jobs in March–August as the pandemic hit prices and the wider economy, marking the fastest rate of layoffs in industry history, Deloitte analysts said.

Why it matters: Their new report released Monday warns that the sector's employment may remain depressed for a long time.