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!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Annelise Capossela/Axios

The extra $600 a week of unemployment insurance isn't creating a disincentive for job seekers, per a new study by Yale economists.

Why it matters: Even with that extra help, millions of Americans are barely making ends meet. Now it has expired, and congressional Republicans' argument against extending it — that it rewards unemployment — isn't backed by the data.

The big picture: Some small-business owners around the country have said they believe the extra $600 a week was making it more difficult for them to hire workers. But when the Yale economists zoomed out, they found that the benefit had no effect on the labor market.

  • "Our findings don't imply that nobody is making this particular tradeoff, but what we do find is that [the extra benefit's] aggregate effect on employment is zero," Dana Scott, one of the study's authors, tells Axios.
  • In fact, there are around 14 million more unemployed people than there are jobs, per the Economic Policy Institute. "If we’re in a scenario where the jobs aren’t there, searching isn’t going to help," Scott says.

The stakes: Reducing — or doing away — with the benefit could actually lead to bigger economic problems as people have even less money in their pockets and cut back on consumer spending, she says.

Go deeper: The unemployment situation is really, really bad

Go deeper

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

The jobs recovery remains far from complete

Data: U.S. Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. economy added more jobs than expected last month — 638,000 — marking the sixth month of consecutive declines in the unemployment rate, but there are still 10 million fewer jobs filled than there were in February.

What they're saying: "The combination of elevated unemployment and part-time employment and low participation all point to significant slack in the labor market," economists at Jefferies write in a note to clients.

Miriam Kramer, author of Space
7 hours ago - Science

China makes history with successful Mars landing

A model of the Tianwen-1 Mars rover is displayed during an exhibition at the National Museum of China in Beijing. Photo: Wang Zhao/AFP via Getty Images

A Chinese lander carrying a rover successfully touched down on Mars for the first time, state media reports.

Why it matters: This is the first time China has landed a spacecraft on another planet, and it launches the nation into an elite club of only a few space agencies to successfully make it to the Martian surface.

8 hours ago - World

UN: 10,000 Palestinians displaced in Gaza as Israel-Hamas fighting escalates

A Palestinian woman walks after she collects her belongings inside her damaged house following an Israeli air in the northern Gaza Strip. Photo: Ahmed Zakot/SOPA Images/LightRocket via Getty Images)

The United Nations warned Friday that ongoing fighting between Israel and Hamas "has the potential to unleash an uncontainable security and humanitarian crisis," in not only the occupied Palestinian territories and Israel, but "the region as a whole."

The big picture: More than 125 Palestinians, including 31 children have been killed in Gaza since fighting began Monday, per the Palestinian Ministry of Health. Eight people, including two children, have been killed in Israel, Reuters reported, citing Israeli authorities.