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Photo: John Sommers II/Getty Images

Workers of color, women and the lowest-income people are more likely to be relying on unemployment benefits this month, according to projections released by the Congressional Budget Office (CBO) on Wednesday.

Why it matters: The weekly unemployment claims report doesn't have a demographic breakdown of who's receiving unemployment aid.

  • The CBO's estimates, done by extrapolating from other government jobs data, mirror other data that show the unevenness of whose employment situations have been uprooted by the coronavirus crisis. It also shows who's relying most on unemployment benefits.

By the numbers: 10% of white workers in the labor force are estimated to receive unemployment insurance benefits this month. That figure is 4 percentage points higher for Hispanics (and equally higher for other nonwhite workers). It's about 6 percentage points higher for Black workers.

  • By sex: 13% of women in the labor force will receive benefits, more than the 11% of men who are estimated to receive it this month.
  • By household income: Roughly 17% of the labor force that's in the lowest income quartile is expected to get unemployment benefits, a bigger fraction than all other earnings groups.

Between the lines: The CBO data also estimates that 76% of jobless workers will receive unemployment insurance this month — a sign that benefits will keep them afloat as they endure lost working income. But the more generous unemployment payments are set to expire before the end of the month.

  • 81% of unemployed Black Americans, 71% of Hispanics who are jobless and 78% of unemployed whites are projected to receive unemployment.
  • Among the least educated unemployed workers, only 60% are expected to receive unemployment benefits "because a relatively large fraction of people in that group will not qualify for such benefits (in part because of their citizenship status)," the CBO says.

Of note: The estimates — done at the request of Rep. Richard Neal (D-Mass.) — also don't take into account self-employed workers, who are newly eligible for unemployment insurance since the passage of the federal stimulus bill.

Go deeper

Dion Rabouin, author of Markets
Oct 9, 2020 - Economy & Business

As job losses continue, doubts are rising about unemployment data

Data: U.S. Department of Labor; Chart: Andrew Witherspoon/Axios

More than 25.5 million people were collecting unemployment benefits as of mid-September, and nearly 1.3 million people filed first-time jobless claims last week — more than 800,000 for traditional unemployment and 464,000 for the Pandemic Unemployment Assistance program.

The state of play: That number excluded any new claims from the largest state in the country, California, which paused its program to implement fraud prevention technology and comb through a backlog of claims that had reached nearly 600,000 and was growing by 10,000 a day.

Anti-abortion activists' Supreme Court dreams are coming true

Photo illustration: Annelise Capossela. Photos: Kevin Dietsch/Getty Images

This is the moment the conservative legal movement has been building toward for decades: The solidly conservative Supreme Court is about to hear two major abortion cases within a month of each other.

Why it matters: All of this is likely to end with significant new restrictions on abortion and a clear path for Republican-led states to win the next big abortion cases, too — the culmination of a long and bitter fight for control of the judiciary.

Felix Salmon, author of Capital
4 hours ago - Economy & Business

Trump's volatile return to the stock market

Expand chart
Data: YCharts; Chart: Axios Visuals 

Donald Trump this week became both a meme stock and a social-media entrepreneur at the same time, by announcing that a new company called Trump Media & Technology Group was going to merge with an existing company listed on the stock market.

Why it matters: The medium-term promise of Trump's media company is that it will replace Twitter for anybody wanting to keep track of Trump's messages. The short-term promise is that it can be a hot new speculative vehicle for people wanting to get rich quick in the stock market.