President Donald Trump constantly committed to reviving American industry during his 2016 presidential campaign, promising that he’d bring back jobs that the country lost due to unfair trade deals. His loud appeals to blue-collar laborers went a long way toward putting him in the White House, even though they garnered ceaseless skepticism from the establishment media, mainstream economists, and his predecessor.
New York Times columnist Paul Krugman said weeks after Trump’s election that the president would never bring back lost manufacturing jobs. Krugman declared that “nothing policy can do will bring back those lost jobs. The service sector is the future of work; but nobody wants to hear it.” At a PBS town hall in June 2016, former President Barack Obama poured cold water on Trump’s promise to restore a manufacturing jobs sector that’d been slowly picked apart for decades. Obama contended that decades of America’s diminished dominance in manufacturing was proof of a larger global trend. “Well, how exactly are you going to do that?” Obama asked rhetorically. “What exactly are you going to do? There’s no answer to it. He just says, ‘Well, I’m going to negotiate a better deal.’ Well, what, how exactly are you going to negotiate that? What magic wand do you have? And usually the answer is, he doesn’t have an answer.” It was Barack Obama who oversaw a stagnant and declining manufacturing sector during his eight years in office. According to the U.S. Bureau of Labor Statistics (BLS), Obama’s economy produced less than 100,000 manufacturing jobs across the nation during his last two years in office. In contrast to Obama, manufacturing jobs started soaring shortly after Trump assumed office in January 2017.
Since the Trump Administration’s red-tape–cutting policies and the tax cut and reform law passed in December 2017, manufacturers added 467,000 jobs, more than six times the 73,000 manufacturing jobs added in Obama’s last two years.
Looking at Trump’s first two years, the revised BLS data shows that more than two manufacturing jobs were added for every one job added in government at the federal, state, and local level. In contrast, under Obama, almost five government jobs were added for every one manufacturing job.
Since President Trump took office in January 2017, employment in manufacturing has increased 3.7 percent. Over the same period during the last two years under President Obama, manufacturing payrolls grew by only 0.6 percent.
Justin Haskins, the editorial director and a research fellow at the Heartland Institute, noted in an op-ed in The Hill in January 2020 that Democratic lawmakers fundamentally misunderstand job creation. Instead, Haskins argues that what’s necessary for the economy to flourish is to allow business owners to operate with minimal government interference.
Read the rest of the story
HERE
If you like what you see, please "Like" us on Facebook either
here or
here. Please follow us on Twitter
here.
No comments:
Post a Comment