by From Wednesday postings: by New Deal democrat Holding Trump to account on manufacturing and mining jobs: setting the benchmarks Tomorrow is the April employment report, and at this point we can begin to hold Trump and the GOP Congress at least somewhat (but not fully for about 3-6 more months) accountable for the trend. For example, by this point 8 years ago, Obama and the Democratic Congress had passed the stimulus program, and the hemorrhaging of jobs, while continuing, gradually lessened before completely turning around 9 months later. On the campaign trail last year, Trump made some pretty specific promises to bring back both manufacturing and mining jobs. Those promises were a major part of his economic appeal to the working class. So, beginning tomorrow, it’s time to start holding him to account. Today let’s set the benchmarks. As noted above, the economy finally started to add jobs at the beginning of 2010. So let’s calculate how many jobs were gained or lost in the Obama recovery, as a monthly average, for those 7 years. Here is the Obama record on manufacturing jobs annually beginning in 2010: In December 2009, 11.475 million people were employed in manufacturing. eighty-four months later, in December 2016, 12.343 million people were, for a gain of 868,000, or 10,300 a month.
Topics:
Dan Crawford considers the following as important: US/Global Economics
This could be interesting, too:
Angry Bear writes Planned Tariffs, An Economy Argument with Political Implications
Bill Haskell writes From the Middle Out and Bottom Up
Bill Haskell writes US-China Decoupling
Ken Melvin writes Public vs Private Wealth – Breaking Free
From Wednesday postings:
by New Deal democrat
Holding Trump to account on manufacturing and mining jobs: setting the benchmarks
Tomorrow is the April employment report, and at this point we can begin to hold Trump and the GOP Congress at least somewhat (but not fully for about 3-6 more months) accountable for the trend. For example, by this point 8 years ago, Obama and the Democratic Congress had passed the stimulus program, and the hemorrhaging of jobs, while continuing, gradually lessened before completely turning around 9 months later.
On the campaign trail last year, Trump made some pretty specific promises to bring back both manufacturing and mining jobs. Those promises were a major part of his economic appeal to the working class. So, beginning tomorrow, it’s time to start holding him to account.
Today let’s set the benchmarks. As noted above, the economy finally started to add jobs at the beginning of 2010. So let’s calculate how many jobs were gained or lost in the Obama recovery, as a monthly average, for those 7 years.
Here is the Obama record on manufacturing jobs annually beginning in 2010:
In December 2009, 11.475 million people were employed in manufacturing. eighty-four months later, in December 2016, 12.343 million people were, for a gain of 868,000, or 10,300 a month.
Now here his the Obama record on coal mining jobs annually beginning in 2010:
In December 2009, 77,700 people were employed in coal mining. After rising to almost 90,000, by December 2016, only 49,700 people were so employed, for a loss of -28,000, or -300 a month.
For Trump to do better than Obama, he needs to add 11,000 manufacturing jobs a month, and simply not lose any jobs in coal mining.
The accounting starts tomorrow.