Dec 7, 2018

North Carolina GOP candidate endorses new election if evidence of fraud surfaces

Mark Harris speaking at a campaign rally with President Trump. Photo: Sean Rayford/Getty Images

North Carolina GOP candidate Mark Harris said in a video Friday that he would "wholeheartedly" support a new election if evidence of fraud is presented in North Carolina's 9th congressional district race, the Washington Post reports.

Why it matters: This is a sharp turn from Harris' stance yesterday when he demanded that the election results be certified immediately with him as the victor over Democrat Dan McCready, who officially pulled his concession on Thursday. State and national GOP officials were alerted by Harris' Republican primary opponent that there may have been fraud in the primary election, but officials instead focused on Harris' general election campaign against McCready.

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.