Trump employment boom, Trump manufacturing bust

neverfail
Posts: 4104
Joined: Sun Dec 18, 2016 3:47 am
Location: Singapore

Trump employment boom, Trump manufacturing bust

Post by neverfail » Thu May 02, 2019 3:24 am

https://www.asiatimes.com/2019/05/artic ... ring-bust/
Wednesday’s reports were just as contradictory. Private payroll employment grew in April by 275,000, according to Automatic Data Processing, much higher than expected. But the Institute for Supply Management’s Purchasing Managers Index for US manufacturing fell to the lowest level since 2016.

Two quite different things are at work. The biggest contributors to employment growth in the past two years have been medium-sized businesses with between 50 and 499 employees, according to the detailed ADP data (dashed line). Large companies with 1,000 or more employees have contributed only a fraction to total employment (dotted line).
Reflecting a worldwide trend. Small to middling sized firms, not the big corporations, are characteristically the providers of private sector employment.
It seems clear that the combination of tax cuts and deregulation (or at least the promise of deregulation) has lifted the spirits of American entrepreneurs. Hiring has been strong, but it is concentrated in lower-paid, labor-intensive jobs in smaller businesses. That helps explain why overall wage growth has been moderate, although wages are rising for lower-paid occupations: the composition of the labor force is shifting towards lower-wage employment.

Meanwhile, the disappointing PMI number suggests that the rate expansion of American manufacturing has fallen back to the low level that prevailed before Trump was elected. The PMI of 52.8 means that 52.8% of survey respondents are expanding and the remainder are contracting. The consensus estimate for the manufacturing PMI was 55.
:? Umm...what was that you used to say about bringing back American jobs from abroad, Mr Trump?

Jim the Moron
Posts: 1580
Joined: Thu Dec 15, 2016 9:51 pm

Re: Trump employment boom, Trump manufacturing bust

Post by Jim the Moron » Thu May 02, 2019 3:46 am

I searched, but in vain, for anywhere in the article that discussed "bringing back American jobs from abroad." American companies (and their employees) continue to benefit from "America First" policies. Sorry about that.

neverfail
Posts: 4104
Joined: Sun Dec 18, 2016 3:47 am
Location: Singapore

Re: Trump employment boom, Trump manufacturing bust

Post by neverfail » Fri May 03, 2019 2:32 am

Jim the Moron wrote:
Thu May 02, 2019 3:46 am
I searched, but in vain, for anywhere in the article that discussed "bringing back American jobs from abroad." American companies (and their employees) continue to benefit from "America First" policies. Sorry about that.
No need to say "sorry" Jim as you would not find reference to it in that article.

I am simultaneously blessed and cursed with a long memory rather than a short attention span. I still remember things that Trump said during his election campaign and after.

You will find reference to it in this one instead:


When President Trump sat down with business leaders at the White House, he had a pointed message for them; bring back American manufacturing jobs, or risk a tax on imports if you don't. Manufacturing employment has been dropping in the U.S. for nearly four decades.
Employment may well have grown in your country over the past 2 years but NOT in manufacturing.

Not an exclusive US phenomenon but part of a global trend in ALL (high cost) Western countries along with some that technically are not Western but still high cost. I believe that even in the PRC's Shenzhen special economic zone - the country's powerhouse of manufacturing for the overseas global market; factories have been closing because costs have risen to the point where it is unprofitable for manufacturers to keep their enterprises going any longer.

Not your fault that Trump frequently talks through his backside; so no need to apologize. :D

(Trump is not the first macroeconomic illiterate to be elected to the Oval Office and is unlikely to be the last.) :(

Jim the Moron
Posts: 1580
Joined: Thu Dec 15, 2016 9:51 pm

Re: Trump employment boom, Trump manufacturing bust

Post by Jim the Moron » Fri May 03, 2019 3:59 am

You are making the case for Trump's policies for him, neverfail. The NPR item you linked was from early on in his presidency. The speaker was hardly negative about the future of manufacturing in the US - quite the contrary. And that is bolstered by facts such as these:

https://www.nam.org/outlook/

One must not allow disdain for the belligerent manchild to cloud one's view's on the administration's accomplishments.

Mr. Perfect
Posts: 1042
Joined: Sat Jan 07, 2017 11:24 pm

Re: Trump employment boom, Trump manufacturing bust

Post by Mr. Perfect » Sat May 04, 2019 3:43 pm

Now that the fascist attempt to overthrow Trump illegally and subvert Democracy has failed, Trump can now give his full attention to the economy and extend his policy brilliance to this area.

The fascists who wasted 2 years of American history with their conspiracy theories did so at great cost to working American families. We will never forget that.

neverfail
Posts: 4104
Joined: Sun Dec 18, 2016 3:47 am
Location: Singapore

Re: Trump employment boom, Trump manufacturing bust

Post by neverfail » Sat May 04, 2019 8:27 pm

Jim the Moron wrote:
Fri May 03, 2019 3:59 am
You are making the case for Trump's policies for him, neverfail. The NPR item you linked was from early on in his presidency. The speaker was hardly negative about the future of manufacturing in the US - quite the contrary. And that is bolstered by facts such as these:

https://www.nam.org/outlook/

One must not allow disdain for the belligerent manchild to cloud one's view's on the administration's accomplishments.
You put your case well Jim. I will endorse it.

The fact that the US economy has blossomed during the first term of such an inadequate incumbent in the Oval Office exposes the shortcomings of the Obama administration in handling your national economy.

Mr. Perfect
Posts: 1042
Joined: Sat Jan 07, 2017 11:24 pm

Re: Trump employment boom, Trump manufacturing bust

Post by Mr. Perfect » Sat May 04, 2019 9:49 pm

So alwaysfail have you ever built a skyscraper.

User avatar
SteveFoerster
Posts: 2060
Joined: Thu Dec 15, 2016 7:17 pm
Location: Northern Virginia, USA and Dominica, West Indies
Contact:

Re: Trump employment boom, Trump manufacturing bust

Post by SteveFoerster » Sun May 05, 2019 10:12 am

Mr. Perfect wrote:
Sat May 04, 2019 9:49 pm
So alwaysfail have you ever built a skyscraper.
OMG, not this stupidity again.
Writer, technologist, educator, gadfly.
President of New World University: http://newworld.ac

Mr. Perfect
Posts: 1042
Joined: Sat Jan 07, 2017 11:24 pm

Re: Trump employment boom, Trump manufacturing bust

Post by Mr. Perfect » Sun May 05, 2019 11:30 am

Hmm, we'll wind out about stupidity really quick. Have you ever owned a an airliner.

User avatar
SteveFoerster
Posts: 2060
Joined: Thu Dec 15, 2016 7:17 pm
Location: Northern Virginia, USA and Dominica, West Indies
Contact:

Re: Trump employment boom, Trump manufacturing bust

Post by SteveFoerster » Sun May 05, 2019 12:55 pm

Mr. Perfect wrote:
Sun May 05, 2019 11:30 am
Hmm, we'll wind out about stupidity really quick. Have you ever owned a an airliner.
You're just going to keep trolling as if these stupid questions are some sort of instant checkmate, aren't you....
Writer, technologist, educator, gadfly.
President of New World University: http://newworld.ac

Post Reply