May 19, 2020 - Health

Podcast: Reopening American health care

Hospitals have been at surge capacity to treat COVID-19 patients — but they’ve taken big hits due to the massive drop off in elective surgeries and procedures. In fact, the sector lost 1.5 million jobs last month. Dan and Axios' Bob Herman discuss what happens next.

Go deeper: Spine and join procedures take a dive

Go deeper

U.S. GDP drop revised lower to 5% in the first quarter

Data: Bureau of Economic Analysis; Chart: Axios Visuals

The U.S. economy shrunk by an annualized 5% in the first quarter — 0.2% worse than initially estimated — according to revised figures released by the government on Thursday.

Why it matters: It's the worst quarterly decline since 2008 and shows a huge hit as the economy was just beginning to shut down because of the coronavirus. Economists are bracing for the second quarter's figures to be the worst ever — with some projecting an annualized decline of around 40%.

9 mins ago - Economy & Business

The end of the beginning on energy companies' net-zero carbon pledges

Illustration: Rebecca Zisser/Axios

Activist investors' push to make the world's largest energy companies commit to ambitious climate targets is entering a new phase.

Why it matters: A key thing to watch now is whether and how energy giants start providing more granular information on how to transform the pledges into concrete steps.

2.1 million Americans filed for unemployment last week

Data: U.S. Employment and Training Administration via FRED; Chart: Andrew Witherspoon/Axios

Another 2.1 million people filed for unemployment last week, the Department of Labor said on Thursday.

Why it matters: Even as states reopen their economies, the number of newly filed unemployment applications remains historically high as the pandemic slams the labor market.