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A "now hiring" sign hanging in a store window in New York City in August 2021. Photo: Spencer Platt/Getty Images

More than 7 million unemployed people will lose their jobless benefits on Monday after federal programs expire, according to the Washington Post.

Why it matters: The expiration of benefits comes as the Delta variant continues to weigh on the U.S. economy.

By the numbers: The U.S. added only about 235,000 jobs last month, according to the latest jobs report.

  • It was significantly fewer than economists expected and the smallest increase since January.

The big picture: The Century Foundation estimated last month that 7.5 million workers receiving two federal unemployment assistance programs will be cut off from aid.

  • It also determined that the cutoff will disproportionately affect people of color and women.

Go deeper: Biden: "No question" Delta variant is to blame for poor jobs report

Go deeper

COVID cases and deaths are on the rise

Expand chart
Data: N.Y. Times; Cartogram: Kavya Beheraj/Axios

COVID-19 cases and deaths are rising all across the U.S. even before the Omicron variant takes hold.

Why it matters: The holidays — and the inevitable spread of Omicron — will only heighten the risks that unvaccinated Americans face from COVID, in all its forms.

Hope King, author of Closer
39 mins ago - Economy & Business

Peloton pumps its brakes

Data: FactSet; Chart: Axios Visuals

Peloton’s popularity is falling as swiftly as it shot up.

Why it matters: Not all pandemic habits stick around. Peloton's trajectory over the past two years exemplifies how challenging it's been for companies to gauge shifts in consumer demand — particularly in sectors heavily altered by the pandemic.

First look: Senators propose bill to ban corporate PACs

Sens. Jon Ossoff and Mark Kelly. Photos: Chip Somodevilla (left), Courtney Pedroza/Getty Images

Sens. Mark Kelly (D-Ariz.) and Jon Ossoff (D-Ga.) will soon propose a bill prohibiting for-profit corporations from establishing and managing political action committees, according to a copy of the legislation obtained by Axios.

Why it matters: The introduction of "The Ban Corporate PACs Act" comes amid heightened scrutiny on Capitol Hill regarding money in politics, including efforts to bar companies from influencing political campaigns and federal elections. It would likely face a court challenge and First Amendment concerns.