The Progressive


A project of Common Dreams

For Immediate Release

Groundwork Calls for Rate Cuts Following Another Stellar Jobs Report

The first jobs report of 2024 from the Bureau of Labor Statistics shows the economy added 353,000 jobs and unemployment remained at 3.7%. In response, Groundwork Collaborative’s Director of Policy and Research Bilal Baydoun released the following statement:

“Today’s stellar jobs report marks two straight years of unemployment below 4% and 18 months of cooling inflation, an achievement many economists did not think was possible. The data is very clear that we never had to sacrifice jobs for lower prices.

“High interest rates will only slow our clean energy transition and put families in more debt. Chair Powell must change his tune and cut rates in March.”

The Groundwork Collaborative is dedicated to advancing a coherent and persuasive progressive economic worldview and narrative capable of delivering meaningful opportunity and prosperity for everyone. Our work is driven by a core guiding principle: We are the economy. Groundwork Collaborative envisions an economic system that produces strong, broadly shared prosperity and power for all people, not just a wealthy few.