"US manufacturing employment🚨is plummeting:

US MFG payrolls dropped -18K in Nov, the 2nd-largest decline since Oct 2023.

Also marks the🚨5th monthly decrease this year.

MFG employment has now fallen in 25 of the last 35 months.

Meanwhile, the ISM MFG Employment Index fell to 44.0 pts in Nov, posting its 10th consec monthly contraction.

This has historically been a leading indicator for US MFG #jobs,🚨suggesting further declines ahead."
-Kobeissi L
#Economy #Tariffs #Protest #Recession #USPol

The pain is acute because price increases are outpacing wage gains for most American households, especially those with lower incomes. The gap between wage growth for the most affluent & least affluent households has been larger this year than at any time in the past decade, according to Bank of America Institute, which uses proprietary data from the bank’s enormous customer base.

#Trump #economy #inflation #affordability #CostOfLiving #recession #trumpcession #WealthGap #idiocracy #kakistocracy

Reducing illegal #immigration is a worthy goal, its long-term economic effects are complex. But #Trump’s cruel, chaotic campaign to deport & drive out undocumented immigrants is creating #labor shortages that in turn increase #prices. It is part of the reason #food prices were rising at an annual pace of 3.1% as of September, the last data released *before* the government shutdown.

#economy #inflation #affordability #CostOfLiving #recession #trumpcession #idiocracy #kakistocracy

“But the policies they’ve chosen have created extra costs for businesses, & businesses tend to pass on costs,” Sahm added.

The cost of #Trump’s policies is likely to increase in the coming months.

His most inflationary policy is his campaign to build a wall of #tariffs around the US #economy. Tariffs are #taxes on imports, & they are *initially* paid by the businesses that bring goods into the #US.

#FactCheck #TrumpLies #inflation #affordability #CostOfLiving #recession #trumpcession