Labor Statistics: There is a gain in the job by 155,000 since Trump’s coming to power
United States has witnessed a significant rise of manufacturing jobs by 36,000 in the month of August. According to the data provided by Bureau of Labor Statistics, there is a gain in the job by 155,000 since Trump’s coming to power in the last November election.
This is the highest level ever achieved after January 2009. Manufacturing sectors which have observed considerable growth are auto industry, computer and electronics components and fabricated metal products.
When Barrack Obama had come to power in 2009, manufacturing jobs were 12,561,000 which dropped to mere 11,4530,000 in February 2010. The count was 12,325,000 last November. The manufacturing sector didn’t see noticeable rise while he remained in power.
The phenomenal rise in manufacturing job is seen first time in the decade. With the increase in automation and robots, it is feared that manufacturing jobs are at lost. Then what are the factors that have led to gain in jobs?
The most increase of manufacturing jobs is in the auto industry. Off shoring such jobs haven’t been much fruitful as height and weight of the products doesn’t make it much cost saving. Again the labor charges in China and other countries have increased.
According to the studies conducted by National Bureau of Economic Research, with use of every robot, six human jobs are lost. Robot sale has been on rise. Then why the manufacturing jobs are not plummeting, the reason behind that might be it is the robots which are bringing offshore jobs back to US. Many US companies are setting up or reshoring manufacturing plants in US itself. The plants do not require as many number of human as before due to automation.