Oct 28, 2019

Pay raises slow in weakening economy

People attend a job fair in Miami, Fla., in April 2019. Photo: Joe Raedle/Getty Images

Just one-fifth of the economists surveyed by the National Association for Business Economics said their companies have hired additional workers in the past three months, AP's Christopher Rugaber reports.

Why it matters: That is down from one-third in July. A broad measure of job gains also fell to its lowest level since October 2012.

  • Just one-third of economists said their firms had lifted pay in the past three months, down from more than half a year ago.

The big picture: Perhaps because of concerns over a weakening economy, businesses are less likely to offer higher pay, even with unemployment at a 50-year low.

Go deeper: Wage growth and job gains may have peaked

Go deeper

Updated 6 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 5 p.m. ET: 5,885,490— Total deaths: 363,031 — Total recoveries — 2,468,011Map.
  2. U.S.: Total confirmed cases as of 5 p.m. ET: 1,735,971 — Total deaths: 102,516 — Total recoveries: 399,991 — Total tested: 15,646,041Map.
  3. Public health: Hydroxychloroquine prescription fills exploded in March —How the U.S. might distribute a vaccine.
  4. 2020: North Carolina asks RNC if convention will honor Trump's wish for no masks or social distancing.
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  6. 1 sports thing: NCAA outlines plan to get athletes back to campus.
Updated 59 mins ago - Health

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

Over 500 schools in South Korea have either closed or postponed reopening, according to the Korea Times, which cites data from the Ministry of Education.

Why it matters: South Korea has been a model for how to handle the novel coronavirus, and the closures reportedly followed concerns from parents and teachers over child safety. The country's confirmed death toll has plateaued at 269 over the past few days, with few increases, per Johns Hopkins data.

Trump to end Hong Kong’s special trade status

President Trump. Photo: Win McNamee/Getty Images

President Trump announced on Friday that the U.S. would be fundamentally changing longstanding policies toward Hong Kong as a result of Chinese encroachment on the city's autonomy.

Why it matters: Trump said he would be effectively ending the special trade status that has allowed Hong Kong to flourish as a gateway to the Chinese market. That leaves an uncertain future for businesses that operate in Hong Kong, not to mention the city's 7 million residents, and could be met with reprisals from Beijing.