US Politics in Trump era Public date: 03.10.2019 13:07:34

30 Jul 2019

With the economy on the line, the Fed prepares to take its biggest gamble in years

The Federal Reserve this week is all but certain to cut interest rates despite unemployment being at historic lows, a highly unusual action that is shaping up to be the biggest gamble of Fed Chair Jerome H. Powell’s brief tenure as leader of the world’s most powerful economic institution. Some economists, Fed officials and people on Main Street say the Fed’s action will benefit the stock market more than the real economy. And they argue cutting rates would introduce risks that could worsen the next downturn.
The Federal Reserve this week is all but certain to cut interest rates despite unemployment being at historic lows, a...

Publisher: Forbes

Author:

6 Jul 2019

Trump Is Falling Almost 1 Million Jobs Short Vs. Obama

Trump’s economy is not the best ever. In fact Obama added almost one million more jobs than Trump over the same timeframe.  Trump entered office on January 20, 2017, and starting with February 2017 he has been President for 29 months. Total job growth during that time has been 5.613 million or 194,000 per month with those results being helped by the tax cut. Working back from January 2017, Obama’s last month in office, there had been 6.423 million jobs added or 221,000 per month. The difference for the 29 months is 810,000 more jobs or 27,000 more per month than Trump.
Trump’s economy is not the best ever. In fact Obama added almost one million more jobs than Trump over the same...
7 Jun 2019

Jobs Report Is Weak, With Gain of 75,000; Unemployment Rate Still 3.6%

The latest report was a disappointing showing that will stoke fears the economy is softening as the Trump administration’s trade war with China and potentially Mexico escalates. The Federal Reserve has signaled that it would consider a rate cut in the event of economic weakness, and May’s data is likely to be an important factor in their decisions.
The latest report was a disappointing showing that will stoke fears the economy is softening as the Trump...

Publisher: Ars Technica

Author:

15 May 2019

AT&T promised 7,000 new jobs to get tax break—it cut 23,000 jobs instead

AT&T in November 2017 pushed for the corporate tax cut by promising to invest an additional $1 billion in 2018, with CEO Randall Stephenson saying that "every billion dollars AT&T invests is 7,000 hard-hat jobs. These are not entry-level jobs. These are 7,000 jobs of people putting fiber in ground, hard-hat jobs that make $70,000 to $80,000 per year."
AT&T in November 2017 pushed for the corporate tax cut by promising to invest an additional $1 billion in 2018, with...
10 May 2019

Stores closing include CVS, Office Depot, Walmart in 2019

The staggering rate of store closures that has rocked the retail industry over the past couple of years is expected to continue in 2019, with roughly the same level of closures expected this year. Retailers closed a record 102 million square feet of store space in 2017, then smashed that record in 2018 by closing another 155 million square feet, according to estimates by the commercial real-estate firm CoStar Group.
The staggering rate of store closures that has rocked the retail industry over the past couple of years is expected to...

Publisher: NYTimes

Author:

4 May 2019

The Economy That Wasn’t Supposed to Happen: Booming Jobs, Low Inflation

The labor market the United States is experiencing right now wasn’t supposed to be possible. Not that long ago, the overwhelming consensus among economists would have been that you couldn’t have a 3.6 percent unemployment rate without also seeing the rate of job creation slowing (where are new workers going to come from with so few out of work, after all?) and having an inflation surge (a worker shortage should mean employers bidding up wages, right?).
The labor market the United States is experiencing right now wasn’t supposed to be possible. Not that long ago, the...

Publisher: NYTimes

Author:

17 Apr 2019

If Trump Country Soars, Will the President Glide to a Second Term?

In small but politically significant ways, the economy under President Trump has favored regions and constituencies that supported him in 2016. These are the men and women whom Trump called forgotten Americans.
In small but politically significant ways, the economy under President Trump has favored regions and constituencies that...

Publisher: Axios

Author:

5 Apr 2019

The U.S. just had the most Q1 layoffs in a decade

The U.S. saw its highest level of layoffs in a first quarter since 2009, data from staffing firm Challenger, Gray & Christmas released Thursday showed.By the numbers: Employers cut 190,410 jobs in the first 3 months of the year — 10.3% higher than the number of layoffs announced in the fourth quarter of 2018 and 35.6% higher than job cuts announced in the same quarter of 2018.
The U.S. saw its highest level of layoffs in a first quarter since 2009, data from staffing firm Challenger, Gray &...
9 Feb 2019

From Costa Rica to New Jersey, a pipeline of illegal workers for Trump goes back years

At his home on the misty slope of Costa Rica’s tallest mountain, Dario Angulo keeps a set of photographs from the years he tended the rolling fairways and clipped greens of a faraway American golf resort. Angulo learned to drive backhoes and bulldozers, carving water hazards and tee boxes out of former horse pastures in Bedminster, N.J., where a famous New Yorker was building a world-class course. Angulo earned $8 an hour, a fraction of what a state-licensed heavy equipment operator would make, with no benefits or overtime pay.
At his home on the misty slope of Costa Rica’s tallest mountain, Dario Angulo keeps a set of photographs from the...
2 Feb 2019

January jobs: The US economy added 304,000 jobs. Workers got a 3-cent raise.

Employers added 304,000 new jobs to the US economy in January — once again surpassing economic forecasts, according to the latest jobs report from the Bureau of Labor Statistics. However, the latest jobs report once again shows little wage growth, which remains the biggest weakness in the American economy. The average US worker hasn’t seen their paycheck get much bigger since the Great Recession, which ended around 2009.
Employers added 304,000 new jobs to the US economy in January — once again surpassing economic forecasts, according to...

Publisher: NYTimes

Author:

7 Dec 2018

Making President Trump’s Bed: A Housekeeper Without Papers

During more than five years as a housekeeper at the Trump National Golf Club in Bedminster, N.J., Victorina Morales has made Donald J. Trump’s bed, cleaned his toilet and dusted his crystal golf trophies. When he visited as president, she was directed to wear a pin in the shape of the American flag adorned with a Secret Service logo.Because of the “outstanding” support she has provided during Mr. Trump’s visits, Ms. Morales in July was given a certificate from the White House Communications Agency inscribed with her name. Quite an achievement for an undocumented immigrant housekeeper.
During more than five years as a housekeeper at the Trump National Golf Club in Bedminster, N.J., Victorina Morales has...

Publisher: NYTimes

Author:

26 Nov 2018

G.M. to Idle Plants and Cut Thousands of Jobs as Sales Slow

General Motors announced Monday that it planned to idle five factories in North America and cut roughly 14,000 jobs in a bid to trim costs. It was a jarring reflection of the auto industry’s adjustment to changing consumer tastes and sluggish sales. The move, which follows job reductions by Ford Motor Company, further pares the work force in a sector that President Trump had promised to bolster.
General Motors announced Monday that it planned to idle five factories in North America and cut roughly 14,000 jobs in a...

Publisher: NBC News

Author:

10 Oct 2018

Trump’s tariffs have already cost Ford $1B; now it’s planning layoffs

Ford will be making cuts to its 70,000-strong white-collar workforce in a move it calls a "redesign" of its staff to be leaner, have fewer layers, and offer more decision-making power to employees, the company announced.
Ford will be making cuts to its 70,000-strong white-collar workforce in a move it calls a "redesign" of its staff to be...

Publisher: CNBC

Author:

20 Sep 2018

Jack Ma: Alibaba is no longer planning to create 1 million US jobs

Jack Ma, founder and chairman of Chinese retail giant Alibaba, says the company no longer plans to create 1 million jobs in the United States in the wake of the ongoing trade conflict between the U.S. and China.
Jack Ma, founder and chairman of Chinese retail giant Alibaba, says the company no longer plans to create 1 million jobs...
13 Sep 2018

Social Security, food stamps, other programs kept 44 million people out of poverty

The US Census Bureau just dropped its annual load of statistics on American poverty and income, and the data shows that 2017 was a good year for many Americans, and not-so-great for others. On the upside: 2.4 million more people snagged full-time jobs, the median household income ticked up, and poverty rates dropped slightly. The bottom 10 percent of US households — earning an average income of $14,219 — saw their incomes fall slightly compared to the previous year, adjusting for inflation.
The US Census Bureau just dropped its annual load of statistics on American poverty and income, and the data shows that...
10 Sep 2018

Under Trump, the jobs boom has finally reached blue-collar workers. Will it last?

Blue-collar jobs are growing at their fastest rate in more than 30 years, helping fuel a hiring boom in many small towns and rural areas that are strong supporters of President Trump ahead of November's mid-term elections. Jobs in goods-producing industries — mining, construction, and manufacturing — grew 3.3 percent in the year preceding July, the best rate since 1984, according to a Washington Post analysis.
Blue-collar jobs are growing at their fastest rate in more than 30 years, helping fuel a hiring boom in many small towns...

Publisher: NYTimes

Author:

7 Sep 2018

In a Sign of the Economy’s Strength, Jobs and Wages Moved Higher in August

Low-, middle- and high-skilled jobs all saw some wage growth. Even so, the job market can vary radically depending on what people do and where they live. “In some occupations — typically those with low-skill requirements and relatively pleasant working conditions — there is a huge oversupply of candidates,” said Julia Pollak, a labor economist at the online employment market site ZipRecruiter.
Low-, middle- and high-skilled jobs all saw some wage growth. Even so, the job market can vary radically depending on...

Publisher: NYTimes

Author:

25 Jul 2018

U.S. Businesses Are Bullish Amid Worldwide Instability

Potential perils are in plain sight: An intense and unpredictable tariff battle is alarming businesses across the country. The annual federal deficit is heading toward $1 trillion. Credit card debt is soaring. And the synchronous wave that lifted every world economy at the year’s start has dissipated. So what? Such risks have done little to puncture the exuberant optimism that is encouraging American businesses to ramp up hiring and consider new investment.
Potential perils are in plain sight: An intense and unpredictable tariff battle is alarming businesses...

Publisher: Bloomberg

Author:

23 Jan 2018

Trump’s Tariffs on Solar Mark Biggest Blow to Renewables Yet

President Donald Trump dealt his biggest blow to the renewable energy industry yet.On Monday, Trump approved duties of as much as 30 percent on solar equipment made outside the U.S., a move that threatens to handicap a $28 billion industry that relies on parts made abroad for 80 percent of its supply.
President Donald Trump dealt his biggest blow to the renewable energy industry yet.On Monday, Trump approved duties of...

Publisher: Reuters

Author:

11 Jan 2018

More layoffs at Indiana factory Trump made deal to keep open

More than 200 workers clocked in for their final shifts on Thursday at Carrier Corp. in Indianapolis in the latest round of layoffs at a plant President Donald Trump toured in December 2016 to trumpet a deal to save jobs and prevent its closure.
More than 200 workers clocked in for their final shifts on Thursday at Carrier Corp. in Indianapolis in the latest round...

Publisher: NYTimes

Author:

22 Dec 2017

Trump Promised to Protect Steel. Layoffs Are Coming Instead.

The layoffs have stunned these steelworkers who, just a year ago, greeted President Trump’s election as a new dawn for their industry. Mr. Trump pledged to build roads and bridges, strengthen “Buy America” provisions, protect factories from unfair imports and revive industry, especially steel.
The layoffs have stunned these steelworkers who, just a year ago, greeted President Trump’s election as a new dawn for...
27 May 2017

Carrier Sends Jobs to Mexico, Workers Say Trump ‘Misled’ Them

The president promised to save 1,100 Indiana jobs, but the company never agreed and now six months later, they’re beginning layoffs. Inside the plant, some workers were skeptical. Carrier had promised layoffs, which Trump glossed over in his claim to save over 1,000 jobs.On Monday, these workers were proven right. Though Trump struck a deal with Carrier promising them $7 million in local business incentives if they kept their Indianapolis plant open, the heating and cooling company warned that it would still outsource a number of Indiana jobs to Mexico, regardless. But the Trump campaign still championed the deal as a win for American workers. This week, the Carrier announced it will cut 632 jobs from its Indiana plant by the end of the year.
The president promised to save 1,100 Indiana jobs, but the company never agreed and now six months later, they’re...

Publisher: Mashable

Author:

19 Apr 2017

Why Trump’s latest speech is a big deal for Silicon Valley

Tech companies have a lot at stake. The United States admits 85,000 people into the country each year on H-1B visas, 20,000 of whom are graduate student workers. But Trump says companies exploit the system to the disadvantage of American workers.
Tech companies have a lot at stake. The United States admits 85,000 people into the country each year on H-1B visas,...
17 Apr 2017

Trump Voters in a Swing District Wonder When the ‘Winning’ Will Start

One after another, the gamblers totter along the twisting walkway, bathed in artificial purple light — burdened, at least occasionally, by the instinct that they should have known better. Usually, this pathway outside Parx Casino is reserved for self-flagellation, a  private lament at the last hundred lost. But lately, as with most any gathering place around here since late January — the checkout line, the liquor store, the park nearby where losing lottery numbers are pressed into the mulch — patrons have found occasion to project their angst outward, second-guessing a November wager.
One after another, the gamblers totter along the twisting walkway, bathed in artificial purple light — burdened,...

Publisher: NYTimes

Author:

4 Jan 2017

Ford, Criticized by Trump, Cancels Plans to Build Mexican Plant

The company said on Tuesday that it would instead invest $700 million to increase production in Michigan. The CEO says the reason is because of market demands. They didn't see the demand for the cars they wanted to build in Mexico, so staying in the US was a business decision. He also said that he is encouraged by the pro growth policies signaled by the Trump administration.
The company said on Tuesday that it would instead invest $700 million to increase production in Michigan. The CEO says...
30 Dec 2016

Trump Claims Credit For Bringing Back Sprint Jobs That Were Already Announced

The thousands of telecommunications jobs President-elect Donald Trump claimed Wednesday that he was bringing back to the United States were part of a previously announced investment deal between Sprint and its main funder, SoftBank. "5,000 jobs announced today are part of the 50,000 jobs that [SoftBank CEO Masayoshi Son] previously announced. It will be a combination of newly created jobs and bringing some existing jobs back to the U.S," a Sprint spokeswoman said in a statement to Politico, after Trump made his announcement to the press.
The thousands of telecommunications jobs President-elect Donald Trump claimed Wednesday that he was bringing back to the...

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