More Layoffs, Higher Costs & Stagnant Unemployment
August 20, 2019
Trump promised to bring back manufacturing, create jobs, and put more money in the pockets of working families — none of that has happened.
HUNDREDS OF STEEL WORKERS WILL BE LAID OFF in Michigan and more lay-offs are planned in Indiana.
Reuters: “United States Steel Corp (X.N) will temporarily lay off hundreds of workers at its Great Lakes facility in Michigan in coming weeks, according to a filing the steelmaker made with the State of Michigan. … An official at the United Steelworkers union, which represents U.S. Steel workers, said lay-offs were also planned for the Gary Works facility in Indiana.”
THE UNEMPLOYMENT RATE IS STAGNANT this year in key battleground states, including Michigan, Wisconsin, and Pennsylvania.
Washington Post: “Employment numbers in the states key to Trump’s 2016 win are flat this year”
Washington Post: “Unemployment rates have been fairly stagnant in many places over the past year. In September 2018, the national unemployment rate was 3.7 percent, what it is now. To get a broader look at this (particularly through the lens of the 2020 election), we pulled data from nine swing states — Arizona, Florida, Georgia, Michigan, Minnesota, New Hampshire, North Carolina, Pennsylvania and Wisconsin — and tracked unemployment and employer payrolls over the past several years. On average, the unemployment rates in those nine states haven’t moved over the course of 2019.”
WORKING FAMILIES WILL LOSE $1,000 PER YEAR as a result of Trump’s trade policies, which his administration said won’t hurt consumers.
CNBC: “The average American household will be down $1,000 per year thanks to the newest round of tariffs on Chinese goods, according to J.P. Morgan.”