July 22, 2004

Greenspan Worried Over Disparity in Wages

July 22, 2004/ Tron Nick

Says Black Unemployment is "failure of our society"

Federal Reserve Chairman Alan Greenspan weighed into the political debate on jobs yesterday, saying the disparity between top income-earners and hourly workers is getting worse. Mr. Greenspan also argued passionately for action to address chronically high joblessness among blacks, which he called a "failure of our society" that is partly due to discrimination, in testimony before the House Financial Services Committee. The answer to problems of joblessness, the focus of a partisan war all year, is to increase education and skills so that workers can qualify for the good-paying but highly technical jobs being created in the economy, he said. [more]

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Greenspan Worried Over Disparity in Wages

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