Jun 30, 2017

2/3 of new manufacturing jobs are thanks to foreigners

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Fed study: Tariffs have hurt manufacturing employment and increased prices

Photo: Drew Angerer/Getty Images

The Federal Reserve has released a study that found the tariffs imposed by the Trump administration in 2018 led to higher prices and fewer manufacturing jobs.

The big picture: President Trump has ordered tariffs on a number of countries and a range of goods in a bid to protect manufacturers and correct what he sees as "unfair" trading practices — most notably in the United States' relationship with China.

Go deeperArrowDec 29, 2019

U.S. economy adds 145,000 jobs in final report of 2019

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. economy added 145,000 jobs in December, the government said on Friday, below economists’ expectations of 160,000. The unemployment rate held at 3.5% — a 50-year low — while wages grew 2.9% from a year earlier, the smallest gain since July 2018.

Why it matters: The U.S. job market held up in the final month of 2019, but heads into the election year with a slowing pace of job creation and wage growth.

Go deeperArrowJan 10, 2020

U.S. manufacturing activity hits worst level since 2009

Photo: Scott Olson/Getty Images

The Institute of Supply Management's index of manufacturing activity released Friday hit its lowest level since the end of the Great Recession in December.

Why it matters: It shows worsening conditions for the U.S. manufacturing sector, which has been in contraction for five straight months, and reignites concerns about the trade war's impact on the economy. Stocks, already in the red after a U.S. airstrike killed a top Iranian general, fell near the lowest levels of the day following the release of the data.

Go deeperArrowJan 3, 2020