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| Presented By Solutions for Pollution |
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| Axios AM |
| By Mike Allen · Dec 11, 2022 |
| 🥞 Happy Sunday! Axios' Erica Pandey is your host this morning — reach her at erica@axios.com. - Smart Brevity™ count: 989 words ... 4 minutes. Edited by Donica Phifer.
📰 Situational awareness: Congratulations to Eileen Drage O'Reilly, Axios' managing editor of standards and training, who was elected the 116th president of the National Press Club. |
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| 1 big thing: Higher ed makeover |
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| Illustration: Sarah Grillo/Axios |
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| Several trends are colliding to change what colleges are offering, and how they interact with students: - Enrollment is down, longstanding traditions are crumbling and applicant pools are changing dramatically.
Why it matters: We're starting to see how higher education will emerge from the dizzying disruption of the pandemic, Axios' Erin Doherty and Erica Pandey write. What's happening: The total number of undergraduate students in the U.S. dropped by nearly 10% during the pandemic, PBS NewsHour reports. - The number of colleges closing over the last 10 years quadrupled compared with the prior decade, per The Wall Street Journal (subscription).
State of play: The demographics of college students have also shifted. - Underrepresented minority applicants increased by 32% and first-generation applications jumped 43% from 2019 to 2020, per Common App data out last month.
- Hispanic enrollment at four-year institutions is up a whopping 287% between 2000 and 2020, reaching an all-time high, according to Pew Research Center.
- Women are outnumbering men in higher education. There are about 130 women for every 100 men at four-year colleges, and the gap is even wider at two-year institutions, the St. Louis Fed notes.
What to watch: One group of institutions bucking the dropping enrollment trend are HBCUs. Applications to top-tier HBCUs jumped as much as 30% between 2018 and 2021, per PBS NewsHour. |
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| 2. 🐦 #TwitterFiles Rorschach test |
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| Image via Twitter |
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| The Twitter Files shouldn't be a Rorschach test, but, in the end, this isn't about facts. It's about feelings. 💡 Why it matters: Reaction to the Twitter Files, a set of internal documents shared by Elon Musk, has been more revelatory than the disclosures themselves, Axios business editor Dan Primack writes. - On the right: The Twitter Files are being held up as proof that Twitter took deliberate actions to limit access to information and voices that could damage Democrats.
- On the left: The Twitter Files are being dismissed as much ado about nothing, or at least about things that the company disclosed years ago.
Reality check: For most users, in the middle and more interested in the World Cup or that new Netflix show, their view of the Twitter Files may be determined by whichever take is shared most in their feed. Or they just won't care at all. |
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| 3. 📉 Charted: Wage growth stumbles |
 Data: Indeed Hiring Lab; Chart: Axios Visuals Wages rose swiftly in 2021 as employers from tech firms to coffee shops struggled to find workers. 🧮 By the numbers: Wages spiked fastest in essential, low-wage jobs in the service and care industries during the pandemic — peaking at 12.3% year-over-year growth at the beginning of 2022. - As the world opens back up, wage growth in these sectors is falling fastest, notes Nick Bunker, an economist at the Indeed Hiring Lab.
The bottom line: Wage growth remains strong — and well above 2019 levels — but the rapid gains workers made during the pandemic are slowing. - "As demand has faded and workers' interest has returned, the competition [among employers] has faded," says Bunker.
- Share this story.
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| A message from Solutions for Pollution |
| Polluters have been put on notice |
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| President Biden's landmark law helps cut climate pollution by 40%. Looking ahead: We must keep cutting carbon pollution and toxic soot and smog. So watch out, polluters. Learn how President Biden is fighting for our health and a clean energy future. |
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| 4. 🏆 Morocco's moment |
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| Photo: Kiran Ridley/Getty Images |
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| Moroccan fans celebrate on the Champs Elysees in Paris after their national team upset Portugal 1–0 to advance to the World Cup semifinals. "[T]his is a moment that has shifted the way Arab and African teams are viewed not just in the eyes of European and South American squads, but in the eyes of their own crowds," writes BBC's Shaimaa Khalil. ⚽ The World Cup continues this week, with semifinal match-ups between Argentina and Croatia on Tuesday and France and Morocco on Wednesday. |
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| 5. Stat du jour: Retail investors fall |
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| Illustration: Annelise Capossela/Axios |
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| Individual traders took a staggering $350 billion hit this year, per Bloomberg (subscription). - The average retail investor's portfolio is down 30%, compared with the S&P's 17%, according to Vanda Research.
What's happening: "Individual investors piled into a specific set of stocks during the height of the pandemic, and those stocks in particular are getting rocked by shifting trends and the Fed's rate hikes," Morning Brew reports. - "Just consider that Tesla, by itself, accounts for ~10% of the average active retail trader's portfolio. So as the stock plunged ~55% this year, it wiped out $78 billion in value for retail investors, per Vanda."
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| 6. 📻 What EVs are missing |
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| Rush-hour traffic on the Zakim bridge in Boston. Photo: David L. Ryan/The Boston Globe via Getty Images |
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| AM radio could become a casualty of the electric vehicle future. - What's happening: "An increasing number of electric models have dropped AM radio ... Carmakers say that electric vehicles generate more electromagnetic interference than gas-powered cars, which can disrupt the reception of AM signals and cause static, noise and a high-frequency hum," The New York Times reports (subscription).
Why it matters: Nearly 50 million Americans listen to AM radio, per Nielsen numbers. - Doing away with it could also strip drivers of a crucial source of news and information during emergencies when WiFi and phones don't work.
- Read the story.
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| 7. 🏈 Sophomore Heisman |
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| Photo: Sarah Stier/Getty Images |
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| USC quarterback Caleb Williams took home this year's Heisman Trophy Saturday night. - The D.C. native is the sixth sophomore to win the award since its creation in 1935, per USA Today.
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| 8. 💵 Parting shot: Currency history |
| Photo: LM Otero/AP For the first time in U.S. history, the nation's currency will feature the signatures of two women. - Treasury Secretary Janet Yellen and U.S. Treasurer Lynn Malerba will be the first female pair to appear on the currency, AP reports. The newly minted $1 and $5 bills enter circulation early next year.
Another milestone: Malerba is the first Native American to serve as treasurer and sign the currency, Axios' Courtenay Brown writes. |
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| A message from Solutions for Pollution |
| Americans are ready for more climate action |
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| The U.S. is on a path to cut climate pollution in half by 2030. We can reach President Biden's ambitious goal with strong solutions for pollution — such as federal protections for our health, our air and our environment from carbon, soot, smog and other toxic pollution. Learn more. |
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| 📬 Thanks for spending your Sunday morning with us. Please invite your friends to sign up to get their daily essentials — Axios AM, PM and Finish Line. |
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