In my remarks today, I will share my perspective on why broad inclusion matters to our economic recovery, the challenges that current economic conditions present to the efforts of lower-income Americans to participate in the economy, and the risks we face as a country if we understate or misunderstand these challenges. Who is being excluded?
Let’s first try to scope who is at risk of being economically excluded. We start with the unemployed. The latest employment report issued by the Bureau of Labor Statistics was  BIS central bankers’ speeches  1  bleak.1 U.S. employers in May added only 54,000 non-farm jobs, down from 232,000 jobs added in April.