The JUST Report: In a “Crisis of Grievance”, Can Business Bring Some Healing Powers?
It’s been a busy week to say the least. MLK Day, the inauguration of President Trump, a flurry of executive orders and announcements, the World Economic Forum in Davos, not to mention the most snow in Houston, Charleston, and New Orleans in 130 years and more L.A. fires.
But let’s start with the newly-released 2025 Edelman Trust Barometer, which centers on a “crisis of grievance”. It’s disturbing reading. According to the report, optimism for the next generation is lacking, over half of young adults approve of hostile activism, and there’s been an “unprecedented global decline in employer trust”. Grievances against government, business, and particularly the rich are widespread, and with greater grievance comes more suspicion of AI and more belief in politics as a zero-sum game.
Interestingly, only business is seen as both ethical and competent. CEOs are considered justified for acting on social issues if they can have a major impact and improve business performance. Priority issues included providing good paying jobs, employee training and reskilling, and nurturing workplace civility. Tackling affordability, climate change, misinformation and discrimination were identified as areas where business should go further.
All of this dovetails neatly with JUST’s own recent survey work. Though global in nature – as this week’s Davos agenda demonstrates (see below) – the themes in the Edelman report are especially resonant in the U.S. They will likely shape the second Trump Presidency. They also give U.S. corporations an incredible opportunity to step up and lead, not only in providing the pathways to economic security that Dr. King espoused, but to heal division and rebuild trust within society itself.
Be well,
Martin
The Word at Davos
With Davos in full swing, here are some of the biggest news stories coming from the conference:
CNBC has written an extensive summary of how CEOs are talking about the number one issue at Davos this year: AI. Coverage includes some of the biggest takeaways and quotes on which workforces the technology threatens, what regulation can help or hurt the industry, and more.
The other major theme of Davos? Growth. HP CEO Enrique Lores is optimistic about Trump administration deregulation policies and their capacity to drive growth, echoing similar comments from the CEOs of BNY, TCW Group, and more.
Coca-Cola CEO James Quincey believes global inflation will finally moderate in 2025.
Must Reads
The AP runs down a list of some of the largest companies announcing layoffs, including BP’s recent announcement that the company is eliminating nearly 4,700 jobs worldwide as a cost-cutting measure.
TikTok is back – for now. The Washington Posts writes on Trump’s executive order, which allows the app to function for another 70 days while searching for a U.S. buyer.
Fortune examines the trend of Gen Z creating companies and getting into self-employment at a higher rate – and earlier age – than previous generations, and what that means for the future of employment.
Reuters reports that Goldman Sachs CEO David Solomon is being offered an $80 million dollar stock bonus to stay on as the head of the company for another five years.
The FTC is suing PepsiCo for allegedly giving one big-box retailer more favorable pricing than others. CNBC has the story.
Nearly 18,000 Costco workers are preparing to strike on February 1st if their new union contract demands are not met, per CBS News.
Chart of the Week
This chart comes from the Edelman Trust Barometer, and shows that employees across the world are demanding more action from businesses on affordability, climate change, retraining to adapt to technological changes, and more. Explore all the details inside.
