In the last 26 months of Obama’s presidency, manufacturing employment grew by 96,000 or 0.8%.
In Trump’s first 26 months, manufacturers added 479,000 jobs, or 3.9%, 399% more jobs than Obama’s record.
Is it any wonder that President Obama derided then-candidate Trump for needing a “magic wand” to deliver on his manufacturing jobs promise?
On the other hand, federal, state and local government jobs, many of them creators of job-stifling red tape,
grew by 1.8% in Obama’s last 26 months compared to 0.8% under Trump.
In fact, over the past 26 months, there were 168% more jobs in manufacturing created than in government, while during Obama’s last 26 months, there were 303% more government jobs created than in manufacturing.
This was not sustainable. Government jobs don’t pay for themselves.
And here’s where President Trump’s pro-growth policies come into play.
The current stretch in increased manufacturing employment started in November, 2016—the month of Trump’s election. Employers, especially those faced with making long-term investments in physical plants and equipment, anticipated regulatory relief under Trump.
They got the relief they hoped for.
By October 2018, the Trump Administration cut 2.7 major regulations for every one added, greatly reducing regulatory cost and risk.
In addition, the tax cuts signed into law in December 2017 not only reduced corporate tax rates, encouraging investment, they also incentivized U.S.-based multinational corporations to bring home profits held overseas.
In the first nine months of 2018, these firms repatriated $571.3 billion—money needed for job-creating investment at home, but had been held in foreign countries because America had the highest corporate tax rate in the industrialized world.
https://www.forbes.com/sites/chuckd...t-26-months-over-obamas-last-26/#17c76ed020a6
