Jun 23, 2017

Tracking American wealth

Nati Harnik / AP

The "Richest Person in Every State", from Forbes' Chase Peterson-Withorn with the magazine's 2017 rankings:

  • "The biggest gainer in sheer dollars is Bill Gates. He added $12.9 billion to his fortune since last year as the rising stock market has boosted his portfolio, which includes Microsoft and a number of other public and private investments."
  • Gates, "the richest person in Washington state — and the world — is actually in danger of losing both titles. This year his net worth is $88.9 billion, but fellow Washington resident Jeff Bezos finished just shy of Gates, at $83.3 billion, thanks to a nearly 50% rise in Amazon's stock price since last year's list."
  • "Dish Network cofounder Charles Ergen, of Colorado, was the biggest gainer as a percentage of net worth. His fortune rose 41%, or $5.5 billion."

Go deeper

Unemployment rate falls to 13.3% in May

Photo: Steve Jennings/Getty Images

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 improvements in a job market devastated by the coronavirus pandemic as economies reopen, the government said.

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

While economists predict that today's nonfarm payrolls report will show around 20 million Americans were unemployed in May, it's likely the real number is close to double that.

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.

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How coronavirus could reshuffle the sports calendar

Illustration: Eniola Odetunde/Axios

The NBA's Board of Governors approved Thursday the league's 22-team plan to resume play at Walt Disney World — a plan that also includes tentative dates for both this season and next.

Why it matters: The league's proposed trip to Disney World not only impacts this season but could have a domino effect that impacts seasons in the future — and could permanently change what time of year the NBA plays its games.