Ahead of tomorrow’s October Jobs Report, Groundwork’s Director of Policy and Research Michael Mitchell released the following statement warning of the dangers of the Fed’s decision to hike interest rates for the sixth time this year:
“The Fed continues to threaten the livelihoods of millions of people – especially Black and brown workers who will be hit the hardest by a Fed-induced Recession. Workers should not be collateral damage in Chair Powell’s misguided war against inflation. But that is exactly what will happen if we continue down this road.
“Chair Powell and the Federal Reserve have shown little regard for the well-being of workers and now the jobs and wages of millions of workers are at risk. Tomorrow’s jobs report will give us more insight into how much damage may have already been done – and the additional pain to come.”
Email press@groundworkcollaborative.org to speak with Michael Mitchell about what we can expect from tomorrow’s jobs report.
And join Groundwork’s #BeyondtheNumbers Tweetchat tomorrow at 1 p.m. ET, featuring an impressive lineup of experts, including Amy Traub of the National Employment Law Project, Elise Gould of the Economic Policy Institute, and Rose Khattar of the Center for American Progress.