{"id":1052340,"date":"2025-04-01T15:36:35","date_gmt":"2025-04-01T19:36:35","guid":{"rendered":"https:\/\/democrats.org\/?p=1052340"},"modified":"2025-04-01T15:36:36","modified_gmt":"2025-04-01T19:36:36","slug":"trump-economys-latest-failures-shrinking-manufacturing-fewer-jobs-and-higher-prices","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/trump-economys-latest-failures-shrinking-manufacturing-fewer-jobs-and-higher-prices\/","title":{"rendered":"Trump Economy\u2019s Latest Failures: Shrinking Manufacturing, Fewer Jobs, and Higher Prices"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

In response to <\/em>new<\/em><\/a> <\/em>reports<\/em><\/a> on Donald Trump\u2019s failing economy,<\/em> DNC Chair Ken Martin released the following statement:<\/em><\/strong><\/p>\n\n\n\n

\u201cDonald Trump\u2019s presidency continues to deliver one failure after another. Under Trump, American manufacturing is shrinking, the economy is contracting, and hardworking Americans are facing a slowing job market with fewer paychecks to go around. It\u2019s no surprise Americans are rejecting Trump\u2019s failed economic agenda in record numbers.\u201d<\/p>\n\n\n\n

NEW: Donald Trump\u2019s failing economy caused U.S. manufacturing to shrink and prices to rise <\/strong>\u201csharply,\u201d<\/strong><\/a> resulting in fewer jobs available for hardworking Americans. <\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cUS factory activity contracted in March for the first time this year<\/strong> and prices accelerated sharply for a second month as the drumbeat of higher tariffs reverberated through the economy.<\/strong> <\/p>\n\n\n\n

\u201cThe Institute for Supply Management\u2019s<\/strong> manufacturing index declined 1.3 points<\/strong> last month to 49, according to data released Tuesday. Readings below 50 indicate contraction <\/strong>and the figure was slightly weaker than the median production in a Bloomberg survey of economists. <\/p>\n\n\n\n

\u201cThe group\u2019s price measure increased to the highest since June 2022. Over the past two months, the gauge has increased 14.5 points, the most over a comparable period in four years.<\/strong><\/p>\n\n\n\n

\u201cThe ISM index of factory orders slumped to the lowest level since May 2023<\/strong>. Along with a bigger contraction in order backlogs, the drop in bookings caused production to shrink for the first time this year.<\/strong> Factory employment contracted at the fastest pace since September.\u201d <\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cFewer US Job Openings<\/strong>, Layoffs Unchanged in Slowing Labor Market\u201d <\/p>\n\n\n\n

\u201cThe number of available positions decreased to 7.57 million from a revised 7.76 million<\/strong> reading in January, the Bureau of Labor Statistics Job Openings and Labor Turnover Survey, known as JOLTS, showed Tuesday. \u2026 <\/p>\n\n\n\n

\u201c[T]he uncertainty around President Donald Trump\u2019s policies is putting business investment plans on hold, which also risks damping the job market <\/strong>and economic growth overall.<\/p>\n\n\n\n

\u201c[J]ob-cut announcements have been mounting in recent months<\/strong>, driven by reductions in the federal government. \u2026<\/p>\n\n\n\n

\u201cConsumers have been more downbeat about their job prospects and financial situations in recent sentiment surveys, which has businesses including Walmart Inc. and American Airlines Group Inc. warning of weaker demand ahead. To the extent that translates into a marked pullback in spending, companies\u2019 hiring plans could take a hit as well.\u201d<\/strong> <\/p>\n\n\n\n

Economists are already warning of a <\/strong>\u201cserious Trump recession\u201d<\/strong><\/a> while a majority of Americans reject Trump\u2019s handling of the economy and fear even higher prices. <\/strong><\/p>\n\n\n\n

The Telegraph<\/a>: \u201cEconomists are starting to worry about a serious Trump recession\u201d<\/strong><\/p>\n\n\n\n

Newsweek<\/a>: \u201cTrump’s Approval Rating on the Economy Hits New Low, Polls Show\u201d<\/strong><\/p>\n\n\n\n

Gallup<\/a>: 59% of Americans disapprove of Trump\u2019s handling of the economy.<\/p>\n\n\n\n

Fox News<\/a>: 58% of Americans disapprove of Trump\u2019s handling of inflation, including 20% of Republicans and 69% of independents. <\/p>\n\n\n\n

Fox News<\/a>: \u201cTarrifs are viewed mostly through a negative lens, with voters thinking they are more likely to harm the U.S. economy (53% harm<\/strong> vs. 28% help) and make products more expensive (69% more<\/strong> vs. 7% less).\u201d <\/p>\n\n\n\n

REMINDER: During his first term, Trump created incentives for companies to ship jobs overseas, contributing to the worst jobs record in modern American history. <\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cThe Offshoring of U.S. Jobs Increased on Trump\u2019s Watch\u201d<\/strong><\/p>\n\n\n\n

Bureau of Labor Statistics<\/a>: When Trump left office, there were over 170,000 fewer manufacturing jobs than when he started.<\/strong><\/p>\n\n\n\n

CNN<\/a>: \u201cTrump told GM workers he could save their plant, but it\u2019s gone for good\u201d <\/strong><\/p>\n\n\n\n

Fortune<\/a>: \u201cTrump to leave office with the worst jobs record since Herbert Hoover\u201d<\/strong><\/p>\n\n\n\n

Washington Post<\/a>: \u201cPresident Trump took office at the crest of the longest economic expansion in U.S. history. He leaves presiding over the worst labor market in modern U.S. history, as an already-sputtering economic recovery has turned negative.\u201d<\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cTrump\u2019s Jobs Record Fell Short of Promises Even Before the Virus\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

In response to new reports on Donald Trump\u2019s failing economy, DNC Chair Ken Martin released the following statement: \u201cDonald Trump\u2019s presidency continues to deliver one failure after another. Under Trump, American manufacturing is shrinking, the economy is contracting, and hardworking Americans are facing a slowing job market with fewer paychecks to go around. It\u2019s no […]<\/p>\n","protected":false},"author":292,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1052340","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nTrump Economy\u2019s Latest Failures: Shrinking Manufacturing, Fewer Jobs, and Higher Prices - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/trump-economys-latest-failures-shrinking-manufacturing-fewer-jobs-and-higher-prices\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-01T19:36:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-01T19:36:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2025\/01\/Black-Logo-White-Fill-For-Email.png?w=1024\" \/>\n<meta name=\"author\" content=\"Adrianna Tomasello\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adrianna Tomasello\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/trump-economys-latest-failures-shrinking-manufacturing-fewer-jobs-and-higher-prices\/\",\"url\":\"https:\/\/democrats.org\/news\/trump-economys-latest-failures-shrinking-manufacturing-fewer-jobs-and-higher-prices\/\",\"name\":\"Trump Economy\u2019s Latest Failures: Shrinking Manufacturing, Fewer Jobs, and Higher Prices - 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