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!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

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!

Illustration: Sarah Grillo/Axios

A debate about whether generous unemployment cash is fueling a worker shortage is raging, with today's disappointing jobs report caught in the middle.

Why it matters: States blaming benefits for keeping would-be employees home are starting to implement policies to counteract the supposed effect.

What's happening: South Carolina and Montana said they will nix the federal unemployment benefits, citing worker shortages. Georgia and Wisconsin may follow, Politico reports.

  • Residents there will no longer get an extra $300 in benefits. Pandemic-era programs that offered unemployment to those typically ineligible (gig workers, for one) would also go away.
  • Maine, Florida and Arizona will require proof that unemployment applicants looked for work in order to get benefits — a requirement waived when the pandemic hit.
  • The U.S. Chamber of Commerce today threw its weight behind ending the extra $300 benefit.

The other side: "The move to cut off benefits is reflecting the assumption that 1) jobs are available but unfilled and 2) the only reason why a worker wouldn’t take one is because they have an unemployment benefit," says RAND economist Kathryn Edwards.

  • "Assuming No. 2 seems very problematic during a pandemic because the pandemic has created a lot of barriers to working," like the lack of child care and the safety concerns that are also keeping people at home.

Biden administration view: "If the unemployment bonus was slowing down hiring, one would expect lower job growth in states and sectors where unemployment insurance is particularly high. In fact, what one sees is the exact opposite," Treasury Secretary Janet Yellen told reporters today.

Driving the news: The April jobs report put some data behind the worker shortage anecdotes — or none at all, depending on whom you ask.

The bottom line: States are weighing in on the debate that's dividing economists and businesses.

Go deeper

The post-pandemic economy has already arrived

Illustration: Aïda Amer/Axios

With the recession officially ending in April 2020, we're now 16 months into the recovery and the contours of the post-pandemic economy have taken shape.

Why it matters: While the coronavirus continues to infect roughly 100,000 new Americans every day, it's no longer driving the course of the economy.

Linh Ta, author of Des Moines
Aug 6, 2021 - Axios Des Moines

Why you should expect longer lines at the Iowa State Fair this year

Illustration: Brendan Lynch/Axios

Iowa State Fair organizers say there are worker shortages abound this year ranging from parking attendants to bartenders to corn dog cooks.

Why it matters: You'll likely have to wait a little longer in lines, especially if attendance reaches 2019's record-breaking levels.

32 mins ago - Politics & Policy

Democrats propose raising debt ceiling through midterms

Speaker of the House Nancy Pelosi and Senate Majority Leader Chuck Schumer. Photo: Stefani Reynolds/Bloomberg via Getty Images

House and Senate leadership announced on Monday that they plan to attach a proposal to raise the debt ceiling through Dec. 2022 to a short-term, government funding bill. The bill must pass before the end of the month or Congress risks a shutdown.

Why it matters: Democrats are taking a huge risk by trying to force through an increase of the debt limit in its must-pass funding bill. The move is wishful thinking on behalf of Democrats who are hoping they can get at least 10 centrist Republicans to balk, as well as an effort to put Republicans on record opposing it.