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U.S. economy surprises with 266,000 new jobs in November

Expand chart
Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. economy added 266,000 jobs in November, above the 187,000 economists expected, the government said on Friday, as the unemployment rate fell back to a 50-year low of 3.5%.

Why it matters: The number reflects, in part, striking GM workers returning to work. The report, which also included upward revisions for prior months' job gains, also shows employers haven't pulled back on hiring, despite fears of a trade-war driven economic slowdown.

Go deeper

Caitlin Owens, author of Vitals
41 mins ago - Health

Who benefits from Biden's move to reopen ACA enrollment

Photo: Chip Somodevilla/Getty Images

Nearly 15 million Americans who are currently uninsured are eligible for coverage on the Affordable Care Act marketplaces, and more than half of them would qualify for subsidies, according to a new Kaiser Family Foundation brief.

Why it matters: President Biden is expected to announce today that he'll be reopening the marketplaces for a special enrollment period from Feb. 15 to May 15, but getting a significant number of people to sign up for coverage will likely require targeted outreach.

Go deeper (<1 min. read)Arrow
Sara Fischer, author of Media Trends
2 hours ago - Technology

Big Tech bolts politics

Illustration: Eniola Odetunde/Axios

Big Tech fed politics. Then it bled politics. Now it wants to be dead to politics. 

Why it matters: The social platforms that profited massively on politics and free speech suddenly want a way out — or at least a way to hide until the heat cools. 

Go deeper (2 min. read)Arrow
Felix Salmon, author of Capital
2 hours ago - Economy & Business

GameStop as a metaphor

Illustration: Aïda Amer/Axios

A half-forgotten and unprofitable videogame retailer is, bizarrely and incredibly, on the lips of the nation. That's because the GameStop story touches on economic and cultural forces that affect everyone, whether they own a single share of stock or not.

Why it matters: In most Wall Street fights, the broader public doesn't have a rooting interest. This one — where a group of small traders won a multi-billion-dollar bet against giant hedge funds by buying stock in GameStop — is different.

Go deeper (2 min. read)Arrow