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Photo: Spencer Platt/Getty Images

Close to 6 million jobs are at risk of being lost in coming months as a second wave of coronavirus-induced layoffs is headed for the U.S., according to a new report from Bloomberg Economics.

What's happening: The job cuts are expected to include higher-paid supervisors in sectors where frontline workers have been hit first, such as restaurants and hotels. It also includes the knock-on effects to connected industries such as professional services, finance and real estate.

  • "It will get worse before it gets better — white-collar workers will now bear the brunt," said Yelena Shulyatyeva, senior U.S. economist at Bloomberg Economics.
  • "Even if states and businesses reopen, we’re likely to see this second wave of losses," since the labor market tends to lag economic activity, she said.

Don't sleep: The expectation for white-collar job losses tracks with surveys of top executives from accounting firm PwC that I wrote about in May, which found 31% of CFOs thought layoffs would occur in the next month, double the percentage who expected to lay off employees at the end of March.

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Clean trucks are paving the road to the electric vehicle era

Illustration: Eniola Odetunde/Axios

The electric vehicle revolution is underway, led by the un-sexiest of plug-in models: the commercial truck.

Why it matters: Growing demand for cleaner trucks means 2021 will be a pivotal year for electric vehicles — just not the kind you might have expected.

Dion Rabouin, author of Markets
3 hours ago - Economy & Business

The fragile recovery

Data: Department of Labor; Chart: Axios Visuals

The number of people receiving unemployment benefits is falling but remains remarkably high three weeks before pandemic assistance programs are set to expire. More than 1 million people a week are still filing for initial jobless claims, including nearly 300,000 applying for pandemic assistance.

By the numbers: As of Nov. 14, 20.2 million Americans were receiving unemployment benefits of some kind, including more than 13.4 million on the Pandemic Unemployment Assistance (PUA) and Pandemic Emergency Unemployment Compensation (PEUC) programs that were created as part of the CARES Act and end on Dec. 26.