AP Photo/Cliff Owen, File
- Rep. Alexandria Ocasio-Cortez argued a record high for the Dow Jones Industrial Average underlines the problem of stagnant US wages.
- $4 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.
- $4.
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 $4.
"The Dow soars, wages don't," the New York congresswoman commented on a $4 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 $4, rose just 2.9% in the 12 months to December.
Stagnant US wages have puzzled many economists, given unemployment has plunged to its lowest levels in $4.
President Donald Trump $4 the rising US stock market as evidence of a booming economy and a boon for all Americans. However, Ocasio-Cortez has repeatedly downplayed the relevance of stock-market gains to salaried workers who don't own stocks.
"The stock market is NOT the economy," she $4. "Stocks aren't jobs. Stocks aren't wages."
"That's why stock prices can go up and normal people still won't feel any more secure about their future," she added.
Ocasio-Cortez's comments on inequality between workers and investors echo those of Bill Gates. The Microsoft cofounder and billionaire philanthropist $4 for the US government to narrow the wealth gap by shifting its focus from taxing incomes to taxing investments and assets.