American manufacturing is on the rebound, and that good news could hardly come at a better time for President Donald Trump, as Republicans gird themselves for the midterm elections just two months from now.
Not that manufacturing is the only sector that’s on a hiring spree—businesses across the board added 162,000 new jobs in August. Even The New York Times calls the latest employment numbers “zesty.”
The paper quoted T. Rowe Price’s chief U.S. economist, Blerina Uruci, saying: “It’s a very good report; I can’t emphasize that enough. And it perhaps shows that financial conditions more broadly are not that tight.”
The workforce participation rate rose as well—which matters because people who drop out of the labor force are invisible in unemployment rates that only count those who are looking for work.
This economy is pulling Americans who’d given up hope off the sidelines and putting them to work. That’s a success not only for Trump’s economic policy but for his immigration crackdown as well—it’s no longer so easy for companies to abandon Americans by hiring foreign workers instead.
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