National Association Of Manufacturers
The National Association of Manufacturers had agreed with Trump’s plan to lower U.S. manufacturing costs, which are significantly higher than in other countries. NAM wanted Trump to further reduce regulations on manufacturing companies, as it pays nearly twice what companies in other industries do. This raises the price of American-made goods.
On the other hand, NAM disagreed with Trump’s protectionism. Other countries raise tariffs in return, which reduced American exports to those countries, even prior to the pandemic. It put a brake on U.S. growth and raised import prices for American consumers.
How We Determined Which Presidents Created The Most Jobs
These numbers are taken from the household survey data collected by the Bureau of Labor Statistics . Between 1929 and 1947, they are taken from a special BLS survey. Both surveys count the total number of people employed. That includes paid employees, self-employed people, private household workers, farm-workers, and temporarily unpaid leave workers.
The number of jobs added during each president’s term was calculated by subtracting the total number of jobs when he entered office from the number of jobs when he left office. The number is taken from the household survey data for December of the prior year.
The Bureau of Labor Statistics publishes two employment statistics for each month, taken from two different sources. The household survey measures number of people employed. The non-farm payroll report measures the number of jobs created by businesses. This number does not include the self-employed, private household employees, farm-workers, or temporarily unpaid leave workers. An individual with two jobs is counted twice by the payroll survey.
Spend $1 Trillion To Rebuild Us Infrastructure
To create jobs, President Trump launched the Rebuild America plan to repair America’s aging roads, bridges, and airports. It outlined $200 billion in spending to leverage a $1 trillion investment in infrastructure. It also promised to reduce the permit process time from 10 years to two years. The plan failed as it met roadblock after roadblock.
Infrastructure investment is one of the most efficient ways to use federal dollars to create jobs.
A study by the Center on Globalization, Governance & Competitiveness at Duke University found that $1 billion of federal investment in infrastructure creates 21,671 jobs.
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George W Bush : 57 Million
President Bush created 5.7 million jobs, a 4.2% increase. He struggled with two recessions. He lost 3 million jobs in 2008, his last year in office.
The job gains occurred before that, as he recovered from the 2001 recession. He responded to it with stimulus checks and the Bush tax cuts. He was helped by low-interest rates from the Fed’s expansive monetary policy.
A Timeline Of The President’s Policies
Kimberly Amadeo is an expert on U.S. and world economies and investing, with over 20 years of experience in economic analysis and business strategy. She is the President of the economic website World Money Watch. As a writer for The Balance, Kimberly provides insight on the state of the present-day economy, as well as past events that have had a lasting impact.
Donald Trump promised to be the greatest job-producing president in U.S. history. During his 2016 campaign, he pledged to create 25 million jobs in the next 10 years. However, due to the COVID-19 pandemic, there were 3.1 million fewer jobs in December 2020 than in January 2017 when Trump took office.
If Donald Trump had been able to keep his campaign promise, he would have beaten the current record-holder, President Bill Clinton, who during his two terms.
To create those jobs, Trump told the Economic Club of New York he wanted to establish a national goal of 4% economic growth. Let’s look at the details of his policies and how they’ve worked during his term.
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New England Journal Of Medicine
The New England Journal of Medicine said the U.S. didn’t adequately test nor provide health care workers and the general public with enough protective equipment.
It also criticized the administration for handing off disease control to the states instead of launching a national strategy. As a result, social distancing directives were inconsistent. The resultant hotspots of infection kept many businesses closed, and raised unemployment levels.
The Claim: ‘trump Shatters World History Two Months In A Row’ With Millions Of Jobs Added In May And In June
A claims lightning strikes twice for President Donald Trump after two months of jobs being added to the economy.
The graphic, with the headline “Trump shatters world history two months in a row” and posted July 2 by Michael A. French, points to 2.5 million jobs that were created in May and 4.8 million jobs created in June all during COVID-19 lockdowns and massive violent riots. It says no American president in history averaged higher than 224,000 jobs in one month.
French did not respond to USA TODAY’S request for comment.
Are the job claims true?
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Reduce Corporate And Investment Taxes
Trump’s tax plan, the Tax Cuts and Jobs Act, lowered the corporate tax rate from 35% to 21%. This was the lowest rate since 1939.
This change may not be as dramatic as it sounds, though. Most corporations make good use of legal deductions.
The Congressional Budget Office found that a more cost-effective method would be to cut business payroll taxes and increase unemployment aid. Governments should target any stimulus to small businesses, which produce 65% of all new private-sector jobs.
Has Pennsylvania Added Thousands Of Manufacturing Jobs Since Trump Took Office
If Your Time is short
- Data from the U.S. Bureau of Labor Statistics shows slow, steady growth in jobs across Pennsylvania since January 2017 when Trump took office. But the growth hasnt been as robust as Pence made it seem.
- There were 6,105,806 jobs in Pennsylvania the month Trump was inaugurated, the data show, compared to 6,249,391 jobs in February of 2020 just before the coronavirus pandemic sent the economy into a tailspin.
- The number of jobs recorded in June the most recent month for when data was available when Pences office made the statement shows a net loss of almost 600,000 since Trump took office.
The day before he toured a chemical company in southwestern Pennsylvania, Vice President Mike Pence touted the jobs growth that had taken place across the state since President Donald Trump took office.
As a candidate, Trump vowed to revive manufacturing, and a July 29 email from the Office of the Vice President says:
“The Trump administrations pro-growth policies added over 209,000 jobs, including 16,000 new manufacturing jobs, to Pennsylvania the last three years.”
We wondered whether the Trump administration had created as many jobs as it claimed.
Data from the U.S. Bureau of Labor Statistics shows slow, steady growth in jobs across Pennsylvania since January 2017 when Trump took office. But the growth hasnt been as robust as Pence made it seem.
But those gains have evaporated and then some.
Featured Fact-check
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Trade War ‘disaster’ With China
Trade policy is where the president wields the most economic power, as Congress has over the years delegated negotiating authority to the presidents office, according to Menzie Chinn, professor of public affairs and economics at the University of Wisconsin, Madison. Chinn documented the trade war saga on his macroeconomic policy blog Econbrowser.
Trump exercised this power almost immediately during his first years in office and even went so far as to use national security as a basis for trade barriers with China — something that no president has done in recent times.
Ultimately, the tit-for-tat trade war that Trump waged with China was lost by the U.S., economists say, and data on trade deficits confirm.
Trumps dramatic trade war upended decades of policy, and kicked off with failed meetings with Chinese leaders in 2017. After the talks disintegrated, Trump initiated the trade war by imposing tariffs on all imported washing machines and solar panels in early 2018. He then announced 25% tariffs on steel imports and 10% tariffs on aluminum. China retaliated with tariffs of up to 25% on more than 100 U.S. products including soybeans and airplanes. The sporadic, retaliatory trade-off battles waged on for years, and dragged other countries that were trying to remain competitive in as well.
By the end of his term, the trade deficit will be larger in absolute terms than it was when he came to office, Chinn told ABC News.
End Outsourcing And Bring Back Jobs From Overseas
America lost 31.4% of its manufacturing jobs between 2000 and 2011 these were steady jobs that, on average, paid $28.85 per hour.
U.S. companies outsourced many of these jobs to save money. But robotics, artificial intelligence, and bio-engineering also made some jobs obsolete, so ending outsourcing may not bring back all the jobs that were lost. It’s possible that government-sponsored training for these specialties might create more jobs for U.S. workers than a trade war.
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Alibaba Makes Deal With Trump To Create 1 Million Jobs
President-elect Donald Trump said he had a great meeting with Alibaba executive chairman Jack Ma on Monday, when they discussed 1 million new U.S. jobs.
Were focused on small business, Ma told reporters. We specifically talked about supporting 1 million small businesses, especially in the Midwest of America. Small businesses on the platform selling products agriculture products and America services to China and Asia, because were pretty big in Asia. This is a big deal, yet the same people that said Trump had a 99% chance of losing will somehow tell you its not Im sure.
The Us Must Continue To Provide Massive And Widespread Relief
Relief spending must be continued and expanded. The U.S. has recently encountered a Wile E. Coyote momentit just ran off the edge of a cliffwith the expiration of an expanded unemployment compensation program that was giving 33 million workers a $600 weekly unemployment insurance boost . The failure to renew this and other relief programs will cause a collapse in consumer spending and business investment, resulting in an economic tsunami that threatens to deepen the coronavirus recession into a depression in the fall, while potentially exacerbating the health crisis by pushing people to go back to work before its safe to do so .
We need expanded relief for all workers in the next coronavirus bill, and we also need to add at least $1 trillion in federal aid for state and local governments, support for public health measures , unemployment, and continuing income supports for the tens of millions who are furloughed or unemployed and for businesses that are shuttered . Without aid for state and local governments, in particular, 5.3 million jobs are at risk by the end of 2021, which threatens to further deepen the coronavirus recession .
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Stanley Black & Decker To Open Us Plant After Trumps Border Tax Threat
We believe this is an excellent opportunity to re-Americanize and revitalize this legendary brand, CEO James Loree told investors.
In addition to the threat of trade policies that could damage imports, manufacturing products in the U.S. to sell to American consumers reduces logistics and distribution costs and lowers the companys environmental footprint, Loree said.
It makes good business sense for us.
Stanley Black & Decker plans to expand production and sales to other retailers and business channels. Stanley Black & Decker shares rose 3.5% to $120.54 shortly after the opening bell Thursday.
Are you sick of all the winning yet? If all goes as planned with just these select few, Trump is set to create MILLIONS of jobs before he is even inaugurated as President of this United States.
The Us Must Rebuild A Sustainable Resilient Manufacturing
Even if the coronavirus pandemic is successfully controlled, we are likely to experience recurrent infections and hot spots until vaccines and more effective treatments arrive. Meanwhile, massive effort is needed, starting today, to rebuild and restructure the economy in ways that will address the needs of Black, Latinx, and women workers.
Millions of low-wage service jobs are unlikely to return. As we rebuild our economy, these jobs can and should be replaced with higher-wage jobs in manufacturing and construction that provide excellent benefits and afford workers the right to organize and bargain collectively. Planning and organizing these rebuilding effortsincluding design, permitting, and purchase of materials and rights-of-wayshould begin now, so that funding, projects, and employment can flow in earnest once the pandemic has been brought under control.
There are three essential components of a sustainable U.S. economy
Looking forward, the three pillars of building a sustainable, resilient, manufacturing-based economy are: rebalancing trade flows rebuilding U.S. infrastructure and supporting the transition to efficient and clean energy systems.5
The U.S. must rebalance trade flows
We must revise government procurement policies and trade rules to ensure that public infrastructure investments actually benefit U.S. workers and the U.S. economy
Investments should be financed with public debt until the economic crisis has subsided
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These 10 Presidents Created More Than 90 Million Jobs
Kimberly Amadeo is an expert on U.S. and world economies and investing, with over 20 years of experience in economic analysis and business strategy. She is the President of the economic website World Money Watch. As a writer for The Balance, Kimberly provides insight on the state of the present-day economy, as well as past events that have had a lasting impact.
To understand which president created the most jobs, you must look at the percentage as well as the total number of jobs generated. Over time, the economy has grown, which has made it easier for modern presidents to create a greater number of jobs. For example, around 150 million people were working in January 2021. That’s more than triple the 47.6 million employed in 1929, the earliest year measured by the Bureau of Labor Statistics.
Ronald Reagan : 165 Million
Ronald Reagan Presidential Library
President Reagan added 16.5 million jobs during his eight-year term, a 16.6% increase. Reagan added the second-largest number of total jobs, which was also the second-highest percent increase. There were 116.1 million people working in December 1988 compared to 99.6 million in December 1980.
Reagan responded to the 1981 recession with Reaganomicsan expansive fiscal policy based on supply-side economics. Reagan cut the top income tax rate from 70% to 28%. He also cut the top corporate tax rate from 46% to 34%. His policies more than doubled the debt from 1980 to 1989.
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Gains Uneven Despite Some Successes
That’s not to say Trump hasn’t had some victories.
As promised, his administration renegotiated NAFTA, though Democrats in Congress had a strong hand in the final product, and it is far from clear just how large an effect the changes made in requiring more auto content produced by workers making above $16 an hour which should shift some work away from Mexico and back into the U.S. will have for U.S. autoworkers in the years to come.
Meanwhile, two new major assembly facilities have been announced since Trump took office in January 2017, a Jeep plant on Detroit’s east side and, last month, Ford said it would build a $700 million plant at its Rouge complex to make the all-electric F-150 truck. General Motors has announced it’s investing $150 million in its existing Michigan plants.
But Trump on the campaign trail repeatedly misrepresents the magnitude of new facilities and ignores setbacks such as a 40-day strike that rocked GM last year and the idling of several plants nationwide, including Warren transmission.
And a large percentage of vehicles sold in the U.S. still clearly come from, or have content originating from, outside the country. A look at statistics compiled by the National Highway Traffic Safety Administration each year indicates that among the Detroit-based automakers, General Motors, Ford and Fiat Chrysler , the average percentage of U.S.-Canadian content in their product lineups went down not up since Trump took office in 2017.
