More than 440 rural nursing homes have closed or merged over the last 10 years, often forcing residents to relocate far from their homes and families, the New York Times reports.

The big picture: Some of those closures have been a result of non-compliance with health and safety standards, most have been financial decisions.

Details: Some nursing homes can't find enough people to fill low-paying jobs, while others just aren't making enough to stay in the black.

  • Occupancy rates are falling, per the NYT, and Medicaid rates for long-term care are low.
  • In South Dakota, for example, nursing homes lose about $58 per day for each resident on Medicaid. It pays less than any other state for long-term Medicaid care; 5 nursing homes in the state have closed in the past 3 years.

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23 mins ago - World

Jeremy Corbyn suspended by U.K. Labour Party over anti-Semitism report

Photo: Christopher Furlong/Getty Images

The U.K. Labour Party has suspended its former leader, Jeremy Corbyn, after a watchdog report found that the party failed to properly take action against allegations of anti-Semitism during his time in charge.

Why it matters: It represents a strong break by Keir Starmer, Labour's current leader, from the Corbyn era and one of the party's most persistent scandals.

U.S. economy sees record growth in third quarter

The U.S. economy grew at a 33.1% annualized pace in the third quarter, the Commerce Department said on Thursday.

The state of play: The record growth follows easing of the coronavirus-driven lockdowns that pushed the economy to the worst-ever contraction — but GDP still remains well below its pre-pandemic level.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — Fauci says U.S. may not return to normal until 2022
  2. Politics: Space Force's No. 2 general tests positive for coronavirus
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases
  4. Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.