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The many benefits of commute-free remote work

Data: Upwork and U.S. Census Bureau; Chart: Axios Visuals

After years of U.S. commutes growing longer and longer, the pandemic has kept millions of office road warriors at home — and the financial benefits are significant.

Why it matters: Commuting was costing American workers an increasing amount of time, money and life satisfaction. After a glimpse of life without the daily slog, workers may not want to go back to normal, which could have major effects on cities around the country.


By the numbers: In a survey released Thursday, the freelancing platform Upwork found that those who were working remotely because of COVID-19 were saving an average 49.6 minutes a day because they were no longer commuting.

  • For the majority who commuted by car, staying off the roads has saved $758 million a day in time, fuel and health costs, which adds up to more than $90 billion since mid-March.

Background: This change comes after years of ever-lengthening commutes, which had increased by an average of almost 11 minutes a day since 1980, or two full days a year.

Be smart: Those savings are one reason why many surveys — like this one from the New York Times — have found that most workers are quite satisfied with working from home.

  • "Now that many have seen what it can be like without a commute, I don't anticipate most [workers] are eager to rush back to the office," says Adam Ozimek, Upwork's chief economist.
  • While workers in outer-orbit bedroom communities like East Stroudsburg, Pa., have saved the most time, Ozimek sees expensive housing areas like the New York and San Francisco metros — which also average long commutes — being hit hardest by the remote work shift.

The bottom line: If workers can save time and companies can save money by abandoning the central workplace, offices may not be coming back soon.

Less travel is causing the NBA to see better basketball

In addition to keeping out the coronavirus, the NBA bubble has also delivered a stellar on-court product, with crisp, entertaining play night in and night out.

Why it matters: General managers, athletic trainers and league officials believe the lack of travel is a driving force behind the high quality of play — an observation that could lead to scheduling changes for next season and beyond.

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Senate Republicans release report on Biden-Ukraine investigation with rehashed information

Senate Republicans, led by Sens. Ron Johnson (R-Wis.) and Chuck Grassley (R-Iowa), on Wednesday released an interim report on their probe into Joe Biden and his son's dealings in Ukraine.

Why it matters: The report's rushed release ahead of the presidential election is certainly timed to damage Biden, amplifying bipartisan concern that the investigation was meant to target the former vice president's electoral chances.

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The high-wage jobs aren't coming back

Reproduced from Indeed; Chart: Axios Visuals

The pandemic has caught up with high-wage jobs.

The big picture: Early on, the pandemic walloped hiring across the wage spectrum and in every sector. Now, states have opened up, and the lower-wage retail and restaurant jobs have slowly come back — but higher-paying jobs are lagging behind.

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The FDA plans to toughen coronavirus vaccine standards

The Food and Drug Administration plans to toughen the requirements for a coronavirus vaccine emergency authorization, which would make it more difficult for one to be ready by the election, the Washington Post reported Tuesday.

Why it matters: Public skepticism of an eventual vaccine keeps increasing as President Trump keeps making promises that are at odds with members of his own administration.

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Wall Street fears meltdown over election and Supreme Court

The death of Justice Ruth Bader Ginsburg and President Trump's vow to name her replacement to the Supreme Court before November's election are amplifying Wall Street's worries about major volatility and market losses ahead of and even after the election.

The big picture: The 2020 election is the most expensive event risk on record, per Bloomberg — with insurance bets on implied volatility six times their normal level, according to JPMorgan analysts. And it could take days or even weeks to count the record number of mail-in ballots and declare a winner.

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Election clues to the country level

Ipsos and the University of Virginia's Center for Politics are out with an interactive U.S. map that goes down to the county level to track changes in public sentiment that could decide the presidential election.

How it works: The 2020 Political Atlas tracks President Trump's approval ratings, interest around the coronavirus, what's dominating social media and other measures, with polling updated daily — enhancing UVA's "Crystal Ball."

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Trump pushes to expand ban against anti-racism training to federal contractors

President Trump announced late Tuesday that the White House attempt to halt federal agencies' anti-racism training would be expanded to block federal contractors from "promoting radical ideologies that divide Americans by race or sex."

Why it matters: The executive order appears to give the government the ability to cancel contracts if anti-racist or diversity trainings focused on sexual identity or gender are organized. The memo applies to executive departments and agencies, the U.S. military, federal contractors and federal grant recipients.

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GoodRx prices IPO at $33 per share, valued at $12.7 billion

GoodRx, a price comparison app for prescription drugs at local pharmacies, on Tuesday raised $1.14 billion in its IPO, Axios has learned.

By the numbers: GoodRx priced its shares at $33 a piece, above its $24-$28 per share offering range, which will give it an initial market cap of around $12.7 billion.

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