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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsCompanies Trump said would create thousands of jobs have failed to deliver
BOSTON (Reuters) - In his first address to the U.S. Congress, President Donald Trump hailed General Motors Co, Harley-Davidson Inc, Intel Corp and seven other companies as innovators and job creators, predicting they would be among those producing tens of thousands of new American jobs and investing billions and billions of dollars.
Nearly three years later, with unemployment at the lowest in half a century, that first presidential portfolio has stumbled to fulfill that forecast. While Trumps 10 companies have spent billions on new factories and upgrades, they failed to keep pace with new hires, according to a Reuters analysis of the groups capital expenditures and headcount since 2017.
Collective employment at Fiat Chrysler Automobiles NV, Ford Motor Co, GM, Harley, Intel, Lockheed Martin Corp, Sprint Corp, Walmart Inc and small biotech Amicus Therapeutics has remained flat at about 2 million workers, the analysis shows. In the same period, total U.S. employment has risen by 4.5%.
For a broader picture, the U.S. economy has produced an average of 193,000 new jobs per month, over the past three years. But even with the benefit of Trumps 2017 massive corporate tax rate cut, that is 14% less than the 224,000 jobs per month created during the last three years of Barack Obamas administration, according to U.S. Department of Labor figures.
https://www.reuters.com/article/us-usa-economy-jobs-trump-analysis/trumps-first-presidential-portfolio-lags-job-stock-market-growth-idUSKBN1ZT18L
napi21
(45,806 posts)ones listed, but the miners who were promised coal would be back! The people who lost jobs in the steel industry who were told he was bringing those businesses back to the US! I know they're unhappy. I hope they vote for the Dem and not just stay home and be mad.
UTUSN
(70,686 posts)Response to Demovictory9 (Original post)
RestoreAmerica2020 This message was self-deleted by its author.