Stock Market Message To American Workers: Shrinking Labor Demand

The problem with companies is people. . ."Like many things, Covid is just accelerating social transformation, concentration of wealth in a few hands, massive inequalities, competition issues and all that.”

With the coronavirus bolstering algorithmically enabled companies as old economy businesses are shuttered and people forced to stay home, firms that rely least on their employees have beaten more labor-intensive ones by 37 percentage points in 2020, according to an analysis . . . from Bloomberg News yesterday

Stock Market Warns Workers That They’re the Problem for Business

By Sarah Ponczek    ‎August‎ ‎25‎, ‎2020‎ ‎4‎:‎00‎ ‎AM

• Tech companies’ domination created ‘bear market for humans’
• Labor-light firms beat big employers by 37 percentage points

In a year when all manner of inequality is under fire -- gender, racial, wealth -- the stock market has drawn scrutiny as an institution that both reflects and amplifies it, where the rich get richer by taking humans out of the process. . .