Jul 24, 2018

Students and faculty push universities to end contracts with ICE

Northeastern University protest against the school's ICE contract. Photo: Jonathan Wiggs/Boston Globe via Getty Images

Students and faculty members across the country are pushing universities and colleges to sever their contracts — some worth millions — with Immigration and Customs Enforcement (ICE,) reports Elizabeth Redden of Inside Higher Ed.

The big picture: Often schools are entered in contracts with the agency to provide education, training and specific expertise. Students and faculty are starting protests and creating petitions demanding saying their universities to "not collaborate with an agency they say is guilty of human rights abuses." Go deeper: Employees in the tech sector are facing the same dilemma with their companies and CEOs.

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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.