Dr. Mabud Previews December Jobs Report
January 6, 2022
In anticipation of tomorrow’s Jobs Report, Rakeen Mabud, chief economist and managing director of policy and research at Groundwork, released the following statement:
“We have made tremendous gains over the past year as our economy recovered from multiple protracted crises. But as tomorrow’s job numbers will undoubtedly highlight, this historic progress will be lost unless it is paired with millions of additional good jobs and sustained investments in climate resilience, child care, and other critical benefits to ensure a full economic recovery in which everyone can thrive.”
To speak to Dr. Mabud about what to expect from the December Jobs Report, email press@groundworkcollaborative.org
BACKGROUND
- The economy is on the mend, but millions of workers remain on the sidelines. Our economy is still missing over three million jobs since the pandemic began. Hard-to-find or too expensive child care and record levels of COVID cases driven by Omicron continue to discourage people from returning to work.
- Our path to economic recovery has been deeply unequal. Even as overall unemployment ticked down, the Black unemployment rate remains nearly double that of the white unemployment rate. For Hispanic and Latinx workers, the unemployment rate is also disproportionately high.
- The pandemic exacerbated these deep inequalities in our labor market — but it did not create them. For decades, policymakers have gutted public investments, cut taxes for wealthy people and corporations, and enacted racist and sexist policies that have systematically devalued the work of women and workers of color.
- Policymakers have a once-in-a-generation opportunity to build an economy that works for all of us. By making sustained public investments in our infrastructure, our supply chains, and our labor force — we can cultivate shared economic growth and build a stronger, more resilient economy.
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Groundwork Collaborative: The Groundwork Collaborative’s mission is to advance an economic vision for strong, broadly shared prosperity and true opportunity for all.
In anticipation of tomorrow’s Jobs Report, Rakeen Mabud, chief economist and managing director of policy and research at Groundwork, released the following statement:
“We have made tremendous gains over the past year as our economy recovered from multiple protracted crises. But as tomorrow’s job numbers will undoubtedly highlight, this historic progress will be lost unless it is paired with millions of additional good jobs and sustained investments in climate resilience, child care, and other critical benefits to ensure a full economic recovery in which everyone can thrive.”
To speak to Dr. Mabud about what to expect from the December Jobs Report, email press@groundworkcollaborative.org
BACKGROUND
- The economy is on the mend, but millions of workers remain on the sidelines. Our economy is still missing over three million jobs since the pandemic began. Hard-to-find or too expensive child care and record levels of COVID cases driven by Omicron continue to discourage people from returning to work.
- Our path to economic recovery has been deeply unequal. Even as overall unemployment ticked down, the Black unemployment rate remains nearly double that of the white unemployment rate. For Hispanic and Latinx workers, the unemployment rate is also disproportionately high.
- The pandemic exacerbated these deep inequalities in our labor market — but it did not create them. For decades, policymakers have gutted public investments, cut taxes for wealthy people and corporations, and enacted racist and sexist policies that have systematically devalued the work of women and workers of color.
- Policymakers have a once-in-a-generation opportunity to build an economy that works for all of us. By making sustained public investments in our infrastructure, our supply chains, and our labor force — we can cultivate shared economic growth and build a stronger, more resilient economy.
###
Groundwork Collaborative: The Groundwork Collaborative’s mission is to advance an economic vision for strong, broadly shared prosperity and true opportunity for all.
