Inequality in a nutshell’ “” Alexandria Ocasio-Cortez says the Dow’s record high is meaningless for many Americans
- Date: 13-Jan-2020
- Source: Markets Insider
- Sector:Financial Markets
- Country:Egypt
Inequality in a nutshell’ “” Alexandria Ocasio-Cortez says the Dow’s record high is meaningless for many Americans
Rep. Alexandria Ocasio-Cortez argued a record high for the Dow Jones Industrial Average underlines the problem of stagnant US wages.
In a tweet on Sunday, she highlighted the widening wealth gap between investors and salaried workers
"The Dow soars, wages don't," the New York congresswoman said. "Inequality in a nutshell."
While the Dow surged about 22% in 2019. But US wages rose just 2.9% in the 12 months to December.
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Rep. Alexandria Ocasio-Cortez argued a record high for the Dow Jones Industrial Average “” a benchmark index of 30 blue-chip stocks including Apple, Nike, and Disney “” underlines the problem of stagnant US wages and the wealth gap between investors and salaried workers in a tweet on Sunday.
"The Dow soars, wages don't," the New York congresswoman commented on a NBC News tweet about the index passing the 29,000 mark for the first time. "Inequality in a nutshell."
Ocasio-Cortez was probably referring to the widening gap between US stock-market gains and wage growth in recent years. The Dow surged 22% in 2019. But wage growth, according to the US Bureau of Labor Statistics, rose just 2.9% in the 12 months to December.
Stagnant US wages have puzzled many economists, given unemployment