Why Wealth Inequality Is Growing In The Pandemic
Inequality has been a growing issue in America for decades, but the pandemic has pushed the wage gap to new extremes.
New data from the Labor Department shows that all of the job losses in December were positions previously held by women. And as low-wage workers struggled to pay their bills, the wealth of the 1% grew – with the world’s billionaires now nearly $2 trillion dollars richer than they were at the start of the pandemic.
President-elect Joe Biden will come into office later this month facing severe economic challenges. The former vice president recently selected candidates for several economy-related cabinet positions including Rhode Island Gov. Gina as commerce secretary, Boston Mayor Martin J. Walsh as labor secretary and Isabel Guzman, a former Obama administration official, as head of the Small Business Administration.
We dig into the ballooning economic crisis that is accelerating inequality in America.
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