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In particular, the new numbers confirm that there is a major slowdown underway in the creation of jobs making things: manufacturing, mining and construction.
Those “goods-producing” sectors, as Labor Department classifications call them, added an average of 58,000 jobs a month in 2018. That is now down to 23,000 a month thus far in 2019 — and a mere 15,000 in July.
— The New York Times
The New York Times reports that as most economic figures remain steady, a look at some of the "fine print" of recent economic data might be cause for concern, particularly within the manufacturing and construction sectors, which are seeing lagging job growth. According to The New York... View full entry
According to The Wall Street Journal, President Donald Trump is moving to escalate America's trade war with China by imposing new tariffs on all Chinese-made products imported into the country. Currently, the administration's tariff-loving trade policy has been limited mostly to... View full entry
Despite recent warnings from the American Institute of Architects (AIA) of weakening billings numbers among architecture firms, the organization continues to forecast positive economic growth for the construction industry into 2020, with several caveats. According to AIA's Consensus... View full entry
The American Association of Equipment Manufacturers (AEM) has criticised the Trump Administration over the introduction of 25% tariffs on $50bn of Chinese imports.
Chinese goods affected include types of construction and agricultural equipment. [...]
Since Trump’s trade announcement on Friday, China has said it will impose a similar 25% tariff, also worth $50bn.
— globalconstructionreview.com
"We’re extremely disappointed with the Trump administration’s decision to move forward with these harmful tariffs," said Association of Equipment Manufacturers (AEM) President Dennis Slater in a statement last Friday. "This move jeopardizes many of the 1.3 million good-paying manufacturing... View full entry
On March 8, 2018, President Trump signed an order to place a 25% and 10% tariff on steel and aluminum imports, respectively, effective March 23, 2018. The new tariff granted a temporary exemption to certain countries including Canada, Mexico, Argentina, Australia, Brazil, South Korea, and the... View full entry
