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| Axios Closer |
| By Hope King and Nathan Bomey ·Jan 10, 2022 |
| Welcome back! As children of the 90s, today we're thinking about Bob Saget. It's not a full house without you. Today's newsletter is 699 words, a 3-minute read. 🔔 The dashboard: The S&P closed down (0.1%) for a fifth consecutive session. - Biggest gainer? Moderna (+9.3%) shares rallied after the company said it expects to have a COVID-19 booster that targets the omicron variant ready by fall.
- Biggest decliner? Take-Two Interactive (-13.1%) shares fell after the company announced its deal to acquire Zynga.
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| 1 big thing: America's out sick |
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| Illustration: Aïda Amer/Axios |
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| Millions of Americans are calling in sick or isolating, leaving employers scrambling and forcing low-income workers to go without pay or risk going into work, Nathan writes. Why it matters: The latest pandemic health crisis is undermining employers, draining the bottom line and risking reduced output. - Industries with workers that can't do their jobs at home are expected to be hit the hardest.
- More than 5 million Americans, or 2% of the workforce, "could now be isolating," Capital Economics economist Andrew Hunter estimated.
Threat level: Worker shortages are already bludgeoning employers, which had 3.85 million more job openings than the economy had unemployed workers as of November. - With absenteeism spreading, that's expected to worsen, causing more flight cancelations, restaurant closures, product shortages and reduced public services.
- "Things are only likely to get worse in the near term," Hunter notes.
Between the lines: Nearly 1 in 4 private-sector workers don't have paid sick time, including about 7 in 10 of the lowest-paid employees, according to the Center for Law and Social Policy (CLASP). Context: Democrats had included paid sick leave in President Biden's Build Back Better plan, but the initiative is dead for now after they were unable to gather enough support on Capitol Hill amid opposition from Republicans. - "It's completely indefensible that two years into a global pandemic we don't have comprehensive, guaranteed paid sick time," CLASP worker advocate Emily Andrews tells Axios.
The other side: Opponents of mandatory paid sick leave say it doesn't prevent workplace illnesses or reduce employee turnover. The bottom line: Expect omicron-related absenteeism to continue disrupting your life. |
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| 2. Charted: Mile high cancellations |
 Data: FlightAware; Chart: Kavya Beheraj/Axios Massive air travel disruptions are the post-holiday norm, Hope writes. - Global airlines have canceled nearly 30,000 U.S. in- and outbound flights since Christmas Eve, data from FlightAware shows.
What's happening: Winter storms and staff shortages grounded flights just as airlines ramped up schedules. - In response, airlines have pulled back on those schedules and in some cases bumped up pay for workers who can show up.
- Some of those efforts seem to be paying off as the number of canceled flights on Monday (as of 4pm) dipped below 1,000 for the first time in 15 days.
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| 3. What's happening |
| 💸 Tax season could be treacherous this year as the IRS says it expects a bigger than usual backlog. (Axios) 💼 Federal Reserve Vice Chairman Richard Clarida is stepping down from the Central Bank following scrutiny over trades he made in February 2020. (Axios) |
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| A message from Axios |
| Axios Pro: Deals is (almost) here |
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| Axios Pro: Deals launches later this month. Why it matters: By dedicating more newsroom resources to cover a select few industries, Axios Pro will deliver deeper reporting and analysis you won't find anywhere else. It's by pros, for pros. Join the Axios Pro waitlist and get $100 off your subscription. |
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| 4. First Look: "Micro wagers" 👀 |
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| Sports gambling area at MGM National Harbor Oxon Hill, Maryland. Photo: Shannon Finney/Getty Images for MGM National Harbor |
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| New Yorkers swarmed newly legal sports gambling sites this weekend — putting more than $342 million on the line, Nathan writes. - What's next: Sports gambling houses, such as DraftKings, FanDuel, MGM and Caesars, are adding more ways to bet, including so-called "micro" wagers or flash bets.
- "Regulatory limits are being removed so that you can put a small wager on just about anything," former Caesars CEO Gary Loveman tells "Thirty Minute Mentors" podcast host Adam Mendler in an interview excerpt shared exclusively with Axios.
Loveman compared the appeal to the same thrill gamblers get after receiving their first card in blackjack. - "Who's going to get the next hit in the baseball game?" Loveman said. "Even if the score is 14 to one, there is still something you can get excited about. So I think the potential for this is huge."
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 | | | | If you like this newsletter, your friends may, too! Refer your friends and get free Axios swag when they sign up. | | | | |
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| 5. New face on U.S. quarters |
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| Maya Angelou addresses the Democratic National Convention in 2004 in Boston. Photo: Hector Mata/AFP via Getty Images |
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| Digital coins have the luxury of paying homage to just about anything. Real coins are getting a taste of that. - The U.S. Mint has started shipping quarters honoring the late writer and activist Maya Angelou, Axios' Shawna Chen reports.
Why it matters: The series kicks off the American Women Quarters Program to recognize notable women throughout U.S. history. Other women to be honored in 2022: - Sally Ride, a physicist and the first woman astronaut.
- Wilma Mankiller, an activist and the first woman elected as principal chief of the Cherokee Nation.
- Nina Otero-Warren, a suffragist and the first woman superintendent of Santa Fe, New Mexico, public schools.
- Anna May Wong, the first Chinese American film star in Hollywood.
Go deeper. |
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| 6. What they're saying |
| "We're going to have the best growth we've ever had this year, I think since maybe sometime after the Great Depression." — JPMorgan Chase CEO Jamie Dimon, speaking about the U.S. economy during the company's annual healthcare conference today. |
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| A message from Axios |
| Axios Pro: Deals is (almost) here |
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| Axios Pro: Deals launches later this month. Why it matters: By dedicating more newsroom resources to cover a select few industries, Axios Pro will deliver deeper reporting and analysis you won't find anywhere else. It's by pros, for pros. Join the Axios Pro waitlist and get $100 off your subscription. |
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 | Bring the strength of Smart Brevity® to your team — more effective communications, powered by Axios HQ. | | |
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