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| Covid pandemic made rich richer & poor poorer, Prof. Wolff tells Boom Bust | Covid pandemic made rich richer & poor poorer, Prof. Wolff tells Boom Bust |
| (about 1 month later) | |
| A new Credit Suisse global wealth report shows that the number of new millionaires increased by over five million during the pandemic year 2020. | A new Credit Suisse global wealth report shows that the number of new millionaires increased by over five million during the pandemic year 2020. |
| RT’s Boom Bust talks to the host of Economic Update, Professor Richard Wolff, to find out if this is a sign of a growing wealth disparity. | RT’s Boom Bust talks to the host of Economic Update, Professor Richard Wolff, to find out if this is a sign of a growing wealth disparity. |
| Absolutely, says Wolff. Using the United States as an example, he points out that over the last 16 months, over 85 million Americans – more than half the country’s labor force – had to file for unemployment compensation. | Absolutely, says Wolff. Using the United States as an example, he points out that over the last 16 months, over 85 million Americans – more than half the country’s labor force – had to file for unemployment compensation. |
| “More than one out of every two American workers went unemployed for a certain period of time,” he said, adding, “What that means is that if they had any savings they’ve used them. Their situation got worse.” | “More than one out of every two American workers went unemployed for a certain period of time,” he said, adding, “What that means is that if they had any savings they’ve used them. Their situation got worse.” |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |