The American economy added 134,000 jobs in September, according to the US Department of Commerce. The unemployment rate sits at 3.7% – the lowest since 1969. On the other hand, earlier this week Verizon announced 44,000 layoffs to its global workforce, including a significant portion in the United States, and the outsourcing of 2,500-5,000 jobs to external contractors.
This is the American story in 2018. Rapid growth and incredible bull markets juxtaposed with deep-seated fear among the middle and working classes about job security, wage growth, and our economic future.
In this election year, there has been some discussion about income inequality and economic opportunity – but not nearly enough. Politicians from both parties understand that creating economic opportunity for all requires a long-term strategy that is complicated and difficult to execute. It also requires the alignment of resources, agendas and values among leaders, funders and policy makers.