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| Presented By BlackRock |
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| Axios AM |
| By Mike Allen · Dec 04, 2022 |
| Good Sunday morning! ✏️ Note from Mike: Your AM author today, and for the Sundays ahead, is Erica Pandey — co-author of Finish Line, and a great Axios success story. - Erica was one of Axios' first interns five years ago. She covered breaking news, then became an expert on the changing workplace. She's fluent in Nepali and Hindi.
Drop her a line: erica@axios.com. - Smart Brevity™ count: 1,149 words ... 4½ minutes. Edited by Donica Phifer.
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| 1 big thing: Remote-work mismatch |
 Data: LinkedIn; Chart: Axios Visuals Demand for remote work is outpacing supply as companies start to call workers back to offices. - By the numbers: 50% of applications submitted on LinkedIn are for remote jobs, but just 15% of postings are advertising flexible work.
💡 Why it matters: "The scaling back of remote-work policies is among the first and most visible signs of a changing job market," The Washington Post's Abha Bhattarai writes (subscription). - "Flexibility remains one of the top priorities for employees," says Rand Ghayad, head of economics and global labor markets at LinkedIn.
- But the balance of power is starting to shift away from workers and back to employers as the labor market shows more signs of cooling down, he says.
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| 2. China loosens lockdowns |
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| People protest COVID restrictions in the streets of Beijing. Photo: Kevin Frayer/Getty Images |
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| Chinese officials are scaling back some of the strictest COVID restrictions after rare nationwide protests erupted in late November, Axios' Herb Scribner writes. - Driving the news: Major cities, including Shenzhen and Beijing, announced yesterday they'll no longer require a negative COVID test in order for residents to ride on public transportation.
🖼️ The big picture: "The shift strikes at the [Chinese Communist Party's] longstanding social contract with its people," writes Vivian Wang on today's New York Times front page (subscription). - "In exchange for limitations on political freedoms, the people would get stability and comfort."
- "But ... 530 million people — almost 40 percent of the population — were under some form of lockdown in late November, according to one estimate. People have died because of delayed medical care, or gone hungry."
What to watch: Apple is making plans to move some production out of China amid the turmoil. The tech giant is looking at India and Vietnam, The Wall Street Journal reports (subscription). |
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| 3. Trump: Terminate the Constitution |
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| Image via Truth Social |
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| Former President Trump called for terminating the Constitution due to "massive election fraud" after an Elon Musk document dump about Twitter's role in limiting access to a Hunter Biden story. - What we're hearing: It's a shocking statement from a former president, and is likely to be cited if there's ever a criminal case against Trump.
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| A message from BlackRock |
| What's behind sinking confidence around retirement investing? |
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| Inflation and COVID-19 have taken a toll on people's ability to invest for retirement. BlackRock's 2022 Read on Retirement research explores how various generations are approaching life after work. Learn about BlackRock's commitment to providing retirement income solutions for Americans. |
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| 4. Startups tackle food waste |
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| Illustration: Shoshana Gordon/Axios |
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| America wastes more than 100 billion pounds, or 40%, of its food each year — and now entrepreneurs are tackling the problem. - Why it matters: The waste has stakes for the environment, global food insecurity and for our wallets.
⚖️ The stakes: The food we waste globally accounts for about 10% of greenhouse gas emissions. If food waste were a country, it would be the third-largest contributor to climate change after the U.S. and China, The Guardian reports. - Around 10% — or 13.5 million — of U.S. households experienced food insecurity in 2021, but food that could be donated to those in need is being wasted.
- And the average American family spends nearly $1900 a year on food they don't eat, per one paper in the American Journal of Agricultural Economics.
"Our food system pushes us to waste," says Roni Neff, an expert in food system sustainability at the Johns Hopkins Center for a Livable Future. - Inconsistent policies around date labels might cause us to toss food that's still safe and good to eat. A national policy on date-labeling could be one of the cheapest ways to save more food, says Neff.
What to watch: A slew of startups are trying to tackle this worsening problem, Kimberly Chin and Megan Hernbroth report in Axios Pro. - Misfits Market sells "ugly," misshapen produce that might have otherwise been trashed for a cheaper price.
- Afresh and Choco make tech to help grocers and restaurants better manage inventory.
- Apeel Sciences used plant-based materials to mimic the natural coating on lemons that keeps them fresher, longer. That colorless, tasteless coating can be used on other produce, like avocados and apples, to increase their shelf life.
🧠 How you can help: Pay attention while you shop so you don't over-buy. - Freeze leftovers, and figure out if you can compost your scraps, the National Resources Defense Council recommends.
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| 5. U.S. News rankings rebellion |
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| Harvard's law school campus. Photo: Darren McCollester/Getty Images |
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| Law schools at UPenn and the University of Washington are the latest to join the revolt against U.S. News & World Report rankings. - Why it matters: A growing number of law schools are refusing to cooperate with the organization, "claiming that the ranking formula rewards those that recruit affluent students, who tend to take on less debt, and fails to give proper credit to schools that recruit students from modest economic backgrounds and prepare them for careers in academia or public service," reports The Washington Post.
📚 The list of rebelling law schools includes Yale, Harvard and four University of California schools, among others. Read the story (subscription). |
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| 6. Pic du jour |
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| Photo: Alexander Hassenstein/Getty Images |
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| Lionel Messi celebrates after scoring the first goal for Argentina in Saturday's game against Australia, which Argentina won 2-1 to advance to the World Cup quarterfinals. - ⚽ Two stunning stats: This was the 1,000th game of Messi's career and his 100th time captaining Argentina's team on his quest to win the World Cup title that has eluded him, CNN reports.
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| 7. 🏈 College football surprises |
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| Kansas State beat TCU for the Big 12 title. Photo: Tim Heitman/Getty Images |
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| Today is college football Bowl Selection Sunday. This weekend's games brought some upsets, as the expected #3 and #4 seeds — TCU and USC — both lost, opening the door for Ohio State and Alabama to potentially make it in. - One-loss TCU is still expected to make the playoff, but USC is likely to miss out.
🔮 What to watch: "The Buckeyes have the clear edge for the final Playoff spot if precedent matters; in 2017, the committee sided with the one-loss Crimson Tide over the two-loss Buckeyes. Revenge is a dish best served five years late," Torrey Hart and Mark Puleo write in The Athletic. Georgia — ranked No. 1 in the country — beat LSU, 50–30, for the SEC title, and No. 2 Michigan bested Purdue, 43–22, for the Big Ten crown. |
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| 8. 🏆 1 fun thing: $200,000 halftime |
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| Georgia celebrates a win against LSU in Atlanta. Photo: Brynn Anderson/AP |
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| Confusion over who won a halftime contest between fans at the LSU-Georgia SEC title game had a happy ending, as both young women walked away with the prize money, AP reports. - Baylor student Reagan Whitaker and St. Augustine student Kayla Gibson's match-up in the Dr Pepper ball toss competition tied and then went into overtime, where they tied again.
- Whitaker was declared the winner because she'd scored more points in a preliminary round held the day before. But the stadium filled with boos over the verdict.
Dr Pepper later announced both women would receive the $100,000 tuition prize. |
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| A message from BlackRock |
| Invested in the future of communities |
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| At BlackRock, we are serving the communities that help the country thrive. We are proud to invest in the projects that build our economy, with $20 billion in U.S. roads, bridges and transportation invested on behalf of our clients. 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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