January Jobs Report Shows Worsening Inequality: New Consensus

January Jobs Report Collective Bargaining Agreementsallyjermain / Pixabay

WASHINGTON, DC — New Consensus Executive Director Demond Drummer released the following statement in response to the January jobs report:

“While wealthy elites can’t stop talking about how ‘good’ the economy is, today’s jobs report is nothing to celebrate for the millions of working people across our country who just want to be able to take care of themselves and their families.

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January Jobs Report Shows The State Of The Economy

“Persistently anemic wage growth reveals how the gains in this economy are going entirely to the rich,  while working families fight to keep up with the cost of living.

“And with reports that mass unemployment has simply been replaced by mass underemployment, with low-wage, involuntary part-time jobs keeping millions of Americans in poverty, we need to rethink how we measure the health of the economy.

“Between the worsening economic inequality in our country, and the rapid escalation of the climate crisis around the globe, it is not hard to feel hopeless or helpless.

“Fortunately, there is a way out of these dual economic and environmental crises: the Green New Deal. Once we enact the Green New Deal, millions of new jobs will be created that will serve to protect our planet, not destroy it.

“The Green New Deal is far more than a climate plan. It’s a plan to create good, just, and fulfilling jobs that will enable millions of people to provide for their families -- while also saving life on this planet.”


About New Consensus

New Consensus is a new think tank emerging from the movement that recruited and supported Alexandria Ocasio-Cortez and other young new leaders in Congress. As organizers, we have shaped the sweeping policy agenda of this exciting moment -- in which nearly all major 2020 presidential candidates have endorsed the Green New Deal.



About the Author

Jacob Wolinsky
Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver