Voter Worries Validated: Manufacturing Jobs Down 16,000
Manufacturing lost 16,000 jobs in February, according to latest employment data from the Labor Department. The goods trade deficit with China hit $31.1 billion in January, one reason driving these job losses, while the overall goods and services deficit hit $45.7 billion, the Commerce Department reported.
Said AAM President Scott Paul:
"Working people in states like Michigan and Ohio feel the lousy manufacturing job loss and growing trade deficit with China, even if Wall Street and DC do not. If you're wondering why there's so much interest in political insurgencies among both Democrats and Republicans this year, here's your answer.
"We'll never experience a true manufacturing resurgence in the United States unless we get trade policy right and get a lot tougher with China. So far I haven't seen the will on Capitol Hill or the White House to do that, even though I see it on the campaign trail."
The #AAMeter, which tracks Obama's goal, now sits at +367,000 jobs due to backward revisions. That means there would need to be nearly 55,000 new manufacturing jobs created each month for Obama to hit his goal.