Manufacturers Added 6 Times More
Jobs Under Trump Than Under Obama's Last 2 Years, by Chuck DeVore, 2/1/19.
Forbes.
The
federal government released its first jobs report of 2019, showing that nonfarm payroll grew by 304,000 in
January, far above economists’ consensus estimate of 170,000. The average
monthly gain in 2018 was 223,000.
Over the past year,
average hourly earnings were up 3.2%.
After revising its data
for past periods, the U.S. Bureau of Labor Statistics (BLS) reports that
seasonally adjusted nonfarm employment grew by 5.1 million jobs in President
Trump’s first full two years in office, a 3.5% increase. Private sector
payrolls grew by 4.9 million, a 4.0% increase.
By comparison, over the
same 24-month period, the economy added 5.0 million jobs in former President
Obama’s last two years in office, with private sector employment up by 4.7
million.
Significantly, growth in
manufacturing jobs continued to show strength, with 13,000 jobs added in
January.
Over the past two years,
with the encouragement of 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 Pres. Trump took
office in January 2017, employment in manufacturing has increased 3.7%. Over
the same period during the last two years under Pres. Obama, manufacturing
payrolls grew by only 0.6%.
The sluggish growth in
manufacturing in the latter half of the Obama years led to President Obama
remarking in June 2016 that manufacturing jobs “are just not going to come back.”
Weeks after Trump’s
election—and in response to candidate Trump’s promise to bring back
manufacturing jobs—New York
Times columnist Paul Krugman, an economist, said, “Nothing policy can do will bring back those lost jobs.
The service sector is the future of work; but nobody wants to hear it.”
Trump’s deregulatory and
tax policies have confounded his critics and benefited the American worker.
Rural
cities need to restore their economies by returning manufacturing plants to
these cities. Rural areas were decimated by the off-shoring of manufacturing
from 1990s to 2020. Big cities are too crowded and need to be reduced.
Norb
Leahy, Dunwoody GA Tea Party Leader
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