President Obama Was Wrong: Manufacturing Is Coming Back

White House Photographer Pete Souza

The Bureau of Labor Statistics (BLS) released its monthly Employment Situation Report showing that nonfarm payroll employment rose by 223,000 jobs in May, exceeding what forecasters expected. The U.S. economy continues its streak of consecutive positive monthly job numbers, with employment growth averaging 207,000 jobs per month in 2018—faster than the gains in both 2016 and 2017. The economy has added nearly 3 million jobs since President Donald J. Trump took office.

A separate Household Survey released by BLS offers more indications of a strong, growing U.S. economy. The unemployment rate edged down 0.1 percentage point (p.p.) over the month to 3.8 percent, a full 1.0 p.p. decrease since January 2017. This is the lowest unemployment rate in more than 18 years, and its benefits are being felt broadly across America. The unemployment rate for African Americans has reached another historic low, reaching 5.9 percent in May. The unemployment rate for Asians declined by 0.7 p.p. to 2.1 percent in May, the lowest rate since BLS began publishing this series in 2003.

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Job growth has been strong across the board during the first 16 months of this Administration, and the gains in the goods-producing industries (manufacturing, construction, and mining and logging) have been especially robust. After averaging gains of 27,000 jobs per month during President Obama’s second term, these industries have almost doubled the pace of hiring to 46,000 jobs per month since January 2017. Manufacturing gains have picked up even more speed: Monthly gains have averaged 19,000 per month since President Trump took office after increases of only 8,000 per month, on average, during the second term of President Obama.

Increases in manufacturing employment since January 2017 reflect increased confidence among America’s manufacturers, but they also reflect changes in the investment decisions of other American businesses. The Morgan Stanley measure of capital expenditure investment plans shows that these plans are at historically high levels, in part due to the incentives emerging from the Tax Cuts and Jobs Act. According to the second estimate of Q1 real GDP released earlier this week, real business fixed investment grew 9.2 percent at an annual rate during Q1, with strong growth in structures, equipment, and intellectual property investment.

This uptick in current and future business investment may help explain the sharp rise in durable-goods employment that began with the President’s election but accelerated in November of last year, just before the Tax Cuts and Jobs Act passed Congress (see figure). The turnaround in employment is apparent in two subindustries that might be expected to benefit the most from expanded business capital expenditures: machinery and computer and electronic products, where employment has increased by 54,500 and 26,600, respectively, since January 2017. Other sectors are also reaping the benefits of a booming economy, with the retail, construction, and transportation and warehousing industries all posting large gains in May employment.

The unemployment rate declined in May across alternative measures of labor utilizations as well. The U6 measure, which includes workers who are marginally attached to the labor force and those employed part-time for economic reasons, declined by 0.2 p.p. over the month to 7.6 percent, the lowest rate in 17 years.

The surveys released by BLS today mark yet another month of robust job growth and demonstrate that the U.S. labor market continues to thrive under the Trump Administration’s pro-growth policies.

Shared from Whitehouse.gov

VIDEO: Trump Tax Cuts Save Manufacturing Jobs (Under a Minute)

 

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Bill
3 years ago

Certainly this is causing a lot of heartburn in some of the Washington crowd. But things are looking so much better under this administration. If only the naysayers like Nancy Pelosi would get on the same sheet of music with the administration instead of continually trying to kill the president this nation would be “well” much sooner. I was never a fan of the then Donald Trump but even the “never” crowd must admit that PRESIDENT TRUMP is doing some great things for the nation.

Dale Brown
3 years ago
Reply to  Bill

I don’t want her to get on any bandwagon with us! I want her gone. Just gone. She has nothing to offer the American people except obstruction.

Lewis Tripp
3 years ago

Obama was wrong on most everything he touched. He did do a great job of trying to destroy this country.

miller
3 years ago
Reply to  Lewis Tripp

Bath House BarryOHOMO did everything he could, tax and regulation-wise to ruin the US manufacturing sector in favor of countries that hated us and funded terror. Thank GOD we have a president that loves the USA. MAGA !!!

David Kachel
David Kachel
3 years ago

Any minute, Obama will announce, “You didn’t build that, I did!!!”
So glad the A*****E is gone forever.

Carl J Bujan Jr
3 years ago

Trump is doing a great job on our economy where as Obama was a complete failure.

Pete Dosado
Pete Dosado
3 years ago

Barack Hussein Obama is not coming back, that is for sure! Of course outlets like Netflix will give him a platform, but Netflix will definitely experience a loss of subscribers! And that is for sure!

William Anderson
William Anderson
3 years ago

Obama was the most economically illiterate and worst president in the history of this nation. Every week Trump proves something else Obama said was wrong.

cc
cc
3 years ago

He was the perfect “Manchurian Candidate” for Soros and his crowd.

Gerald Ladd
3 years ago
Reply to  cc

You are correct. Soros has hated this country for forever. That’s exactly why he backed the communist raised gay but Barry. to destroy our country. By the way, had Killary of won, she’d of finished the job. There is a vidieo of her saying, we need more people like Soros.
https://www.youtube.com/watch?v=X9lw6JqhwSI

A Happy Deplorable
A Happy Deplorable
3 years ago

Obama was wrong just about everything! I love the graph in this article. Before Trump the trend line was in the tank. After Trump was elected the trend line shifted to “up.” Somewhere along the way I’m sure Obama is trying to take credit for setting the stage for growth–for Trump. Well Obama, you had 8 years and your numbers were lousy. Trump has had about 500 days and everything is “winning” and making America Great! Learn something from this Obama, if you are capable of learning. Thanks Trump!

Stan Lee
Stan Lee
3 years ago

Dispensing with political differences between President 44 and President 45, “44” had only his ability to deliver speeches placed into a teleprompter for him. Other than that, was there any experience in presiding over an economy…any economy? How prepared had he ever been to improve a national economy, and to make decisions as a Commander in Chief of American armed forces? As far as we really know of his past prior to election as a one-term Congressman from Illinois, much of it is still under security as it was during his presidency.
Trump has been a successful business leader, builder, and real estate expert. Of his businesses, there are golf courses/country clubs, but the man spends far less time playing golf that Obama ever did just practicing to develop a golf “handicap” which is secret to this day. Apparently, Trump is also known publicly as a very good golfer and that isn’t because he says so, his golf handicap is available publicly. Obama managed a relationship with Iran…it only cost the USA a unscheduled air transport flight into Iran , in the middle of night, with approx. $150 billions of unmarked, negotiable currency. Trump manages issues with Iran, and it doesn’t cost the USA one penny of any currency. He doesn’t “buy” Iran’s behavior. That is just one comparison between “44” and “45”, the yielding of secretly delivered currency is but one of Obama’s “negotiations” that were losers for the USA. Trump has a different and strictly business attitude. He strives not to give away parts of the U.S. treasury while losing an international negotiation.

dandy
dandy
3 years ago
Reply to  Stan Lee

and less poeple like that bitch

Joan Freda
Joan Freda
3 years ago

This is great news for a country nearing complete collapse just a couple of years ago. Trumps has done a spectacular job. The only problem is that those who hate him, those who want to impeach him and those who still believe obamanation was the greatest, are reaping the benefits of an improving economy along with those of us who support Trump 100 %. If the media were to acknowledge these accomplishments of the President they perhaps could turn the tide somewhat and urge more people to support Trump. Unfortunately, they fail to expose obamanation, clinton, soros and all the rest of the conspirators and instead choose to extol them when, in fact, they should be exposing and expelling them for what they really are. They (the collective media) never mention obamanation’s ‘shadow government’ nor expose what the future may hold for us if obamanation and his minions ever are in power again. It ain’t pretty!

chuck steaks
3 years ago

with all my felo komentits/tors there are those that will not agree no matter twat?! that will be the demoriods in the congress, and the traitors in the gooper party. then there are the true believers,such as myself and 70% of the country. the rest are illegals,muzzies, or recalcitrant blacks, spanglers n others.

Tony Winters
Tony Winters
3 years ago

What is that old joke, “How do you know when a politician is lying, his lips are moving”. obama and his Socialist Regime lied to get into the White House and lied to stay in and the country went down hill from day one of his Regime. Does anyone remember the “Shovel Ready Jobs”, or how about the “Re-distribution of Wealth”. Well I don’t know about anyone else, but I still ain’t got my shovel and the Re-Distribution Check bounced; and yet the Democrats/Leftist/Liberals/Socialist/Millennials are still singing his praises. If it weren’t so ridiculous it woudl be laughable.

Joan Freda
Joan Freda
3 years ago

It’s too bad that the socialist democrats are reaping the benefits of this improving economy as well as those of us who support President Trump.

Frene Ignacio
3 years ago

agree, everything Obama touched turned into dirt. Why? because there is always an evil intent , not good for America and its people. But its good for him and cohort’s wallet.

Dale Brown
3 years ago

I don’t want her to get on the bandwagon! I just want her gone! She’s just the for obstruction. Be gone.

Maury Joseph
Maury Joseph
3 years ago

“My names OBAMA, look on my works ye mighty and despair”

Donald Hornish
Donald Hornish
3 years ago

This guy must be living on another planet! He is so wrong and in my opinion was the worst president ever for the United States! One or more thing(s) he did was put America on the road to destruction. Lastly, I truly believe he was never eligible to be president of the United States. He and the Liberal Democrats, the Muslim Brotherhood and liberal Media put this guy in the W H.

dandy
dandy
3 years ago
Reply to  Donald Hornish

dont forget his puppet master the traitor george soros
and his dirty moneywitch has to be confiscated and his 2 passports also
and then deported to RUSSIA

ABUTOM
3 years ago

COMMUNIST MEDIA GAVE 5 VULGAR OFFENDERS A PASS BUT GOT ROSEANNE. YOU MISSED THE BEST ONE. DAVID LETTERMAN LIVE ON TV CALLING FOR THE RAPE OF SARAH PALIN’S YOUNGEST DAUGHTER BY AROD IN THE 7TH INNING STRETCH. IF YOU SAID THAT TO THE GREATEST GENERATION YOU WOULD BE BLOOD ON THE STAGE DOOR. IF YOU SAID THAT ABOUT AN ITALIAN’S DAUGHTER. YOU WOULD BE IN THE TRUNK ON THE WAY TO THE STATEN ISLAND FUNERAL. DAVID LETTERMAN? HE’S GONE AND THERE IS NUTTIN WE CAN DO ABOUT IT.

ROSEANNE: FOX SHOULD PICK HER UP. ABC ALWAYS BE COMMUNIST. NBC NOTHING BUT COMMUNISTS. CBS COMMUNIST BULL SHET, CNN COMMUNIST NUT NETWORK. CNN MAY BE AN INTERNATIONAL PROPAGANDA MACHINE PROMOTING ANTI AMERICAN HATRED WORLD WIDE. LIKE THEY DO IN BRAZIL.

Abu Tom · New York, New York
BARTENDER I’LL HAVE A COLLUSION. VODKA AND DEMOCRAT TRAITOR JUICE MEDIA STIRRED.

Abu Tom · New York, New York
I was totally saddened when I heard Rudy getting booed on his 74th birthday by yankee fans. I flashed back to 911 and recalled that 911 was covered up in the media and erased from punblic communist school books and American history lessons. This is not the New York I grew up in. New Yorkers were the pride of the USA, Toay if we had to secede from England we could not do it. The New England states are all communist plus New York and New Jersey. That is why they all went freakville when GOD appointed President Trump.

The communist democrats were so sure That Hitlery Putin was going to win they did not even bother to destroy incriminating evidence. Thanks to their FBI, DOJ stooges they were able to destroy their lap tops and cell phones. Then they refocused their sins on President Trump using the old Laventi Beria tactic blame and deflect. The power of the communist media turned the tide with extra propaganda and pornowood said dirty words. If this was a bible story the communist democrats would be pharisees.

President Trump gets up at 4 am to serve all the people of the country he loves most. By lunch time when the media rats show for work he has tweated to them their assignments. He has won over many Latino families and also gospel blacks. Don’t be surprised if you hear Kanye West rapping the Battle Hymn of the Republic. NICE COMBO RAP AND GOSPEL ACCAPELLA. NOW THE GOOD NEWS. 50% of the country would surrender at the sound of the first fart. The other 50% has all the guns. That is why the communist democrats and the rino rats want to seize them under any pretense. Those who take your guns away intend to kill you.

A moment of communist silence is not a moment of prayer. Dear creator thank you for all you do. May we always do good in your service. Please ignore the communist muzzle moment of silence as we shout your holy name. Halleluia! PS thanks for sending President Trump.
E PLURIBUS TRUMP. SPIRIT OF AMERICA PARTY RADIO SHOW.
RESERVATIONS: WE WOULD LIKE TO RESERVE A VERY LARGE ROOM FOR A VICTORY CELEBRATION IN NOVEMBER. YES TRUMP PARTY OF 80 MILLION. WE HAVE HITLERY’S FIREWORKS FROM 2016.
FIRST WE GET THE COMMUNIST DEMOCRATS. THEN WE GET THE RINORATS.SPIRIT OF AMERICA PARTY RADIO SHOW

Nancy A
1 year ago
Reply to  ABUTOM

Abutom That is a fantastic comment that you made here. Simply AWESOME!!!! Obutthead, and PUlosi, were horrible, but they are nothing to the four communist, muslim, fake women, senators that now hold office. What a farce.!!!!! I agree with you 100% about our President. He has kept every one of his promises and then some. I voted for him, and intend to vote for him again in 2020, if he’s still able. I pray that he is. God is giving America a break here and the tragedy is that there are so many stupid morons in this country that just can’t see. Or don’t want to. I will continue to pray for him and Vice President Pence as well. And their families. I put nothing past the Demoncraps when it comes to hurting the President through his family. They haven’t any morals anymore.

ABUTOM
3 years ago

SPIRIT OF AMERICA PARTY RADIO SHOW.

miller
3 years ago

Bath House BarryOHOMO, the Brown Clown did everything he could, taxes and regulation wise to ruin the US manufacturing sector. Pres. Trump realizes that that policy weakens us especially in times of conflict. The Clowns’ policies tended to help the economies of foreign countries, especially the ones that hate the USA, as well as their military and terror funding. Thank GOD we have a President who loves the US.

mike young
mike young
3 years ago

Obama’s motto Abandon hope all Americans for I am here.

Nancy A
1 year ago

If you were to ask me, I would say Obama was wrong on a LOT of things.

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