Monday, May 03, 2021

The poor pay the price

 United States Federal Reserve Chairman Jerome Powell says, “The economic downturn has not fallen evenly on all Americans and those least able to bear the burden have been the hardest hit.”

20 percent of workers in the lowest one-fifth of workers by income did not have jobs in February of this year compared with 6 percent of workers in the highest one-fifth of incomes who were still without work.

Powell said labour force participation had declined 4 percentage points for Black and Hispanic women compared with 1 percentage point for white women and about 2 percentage points for all men.

US Fed chief highlights inequality clouding ‘brightened’ outlook | Business and Economy News | Al Jazeera

No comments: