The stock market’s huge run-up in recent months doesn’t capture everyday Americans’ pain. That’s why the government and Big Business should act to help ease the burden on the least fortunate, said JPMorgan Chase () CEO Jamie Dimon, in an interview with CNN Business.
Jamie Dimon: The stock market doesn’t reflect Americans’ painCareer Advice
“When you have 13 million people out of work, and you’ve got people suffering and small business suffering, that’s far more important than the vicissitudes of Wall Street,” Dimon told CNN’s Christine Romans. “That’s what we should worry about.”
Dimon said businesses must do more to help low-income and minority Americans. That’s why he joined a new initiative to work with educational institutions and nonprofits in the New York area to provide more job opportunities for Black, Latinx and Asian workers. He said that government alone cannot solve society’s biggest problems.
“The pace is quick, the world has become more complex, and these problems of education, and jobs, infrastructure, immigration, if you fixed these things we will have a far more just society,” Dimon told Romans.
Dimon, along with City University of New York Chancellor Félix Matos Rodriguez, spoke with Romans last week about the launch of the New York Jobs CEO Council, a coalition of 27 business leaders that is pledging to hire 100,000 New Yorkers by 2030 and provide apprenticeships for 25,000 CUNY students.
Dimon is one of the council’s co-chairs, along with EY global chairman and CEO Carmine Di Sibio, IBM () CEO Arvind Krishna, McKinsey and Company global managing partner Kevin Sneader and Accenture ( ) CEO Julie Sweet.
The goal of the council, according to Matos Rodriguez, is to build new connections for his school’s students — many of whom are the first in the family to go to college.