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"We heard executives openly bragging about their pricing strategies & their ability to raise prices on consumers—wi… https://t.co/fuhJnSwHNm
- 3/10/2023RT @HalSinger: The economy is now under two assaults. One by the Fed, threatening more rate hikes to bring inflation to an arbitrary level…
- 3/10/2023LATEST NEWS
Groundwork Celebrates Record-Low Unemployment for Black Women
WASHINGTON, D.C. – Today’s monthly jobs report from the Bureau of Labor Statistics showed that the unemployment rate for Black women dropped to 4.2% – an all-time low. Groundwork’s Executive Director Lindsay Owens released the following statement in reaction to the data: “Thanks to sound public investments and a strong recovery coming out of the last recession, this record-breaking labor market is finally starting to deliver for Black women, who have been left behind for decades. But this work is just beginning and these fragile gains will be wiped out if Chairman Powell continues barking up the wrong tree. You won’t bring down sellers’ inflation by obliterating the labor market." Email...
Groundwork’s Dr. Chris Becker Previews March Jobs Report
WASHINGTON, D.C. – Ahead of tomorrow’s monthly jobs report from the Bureau of Labor Statistics, Groundwork’s Senior Economist Dr. Chris Becker released the following statement: “One of the strongest labor markets in history has remained steadfast in the face of the Federal Reserve’s aggressive interest rate hikes. But we know exactly what the consequences will be if Chair Powell keeps raising rates: stagnant wage growth, calcified inequities, and millions of people – especially people of color – out of work. “Inflation is already coming down, despite the Fed, not because of it. Chair Powell and the Fed should focus on keeping the labor market strong – not throwing us into a devastating recession.” Email...
Groundwork Praises New CFPB Guidance on Illegal Corporate Conduct
Yesterday, the Consumer Financial Protection Bureau announced new guidance, providing a framework for identifying and cracking down on abusive corporate practices. The framework will assist regulators and enforcers in their efforts to protect consumers from corporate abuse. Groundwork Collaborative’s Executive Director Lindsay Owens reacted with the following statement: “When the Consumer Financial Protection Bureau issues guidance to help regulators hold abusive companies accountable, consumers, of course, stand to benefit. But so do the many honest businesses that no longer have to compete with deceptive, unscrupulous, and exploitative companies that profit off their abusive practices rather than compete on superior...