• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Thursday, May 8
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Business»Manufacturing Jobs Continue To Dwindle Despite Biden Admin Allocating Hundreds Of Billions In Subsidies
Business

Manufacturing Jobs Continue To Dwindle Despite Biden Admin Allocating Hundreds Of Billions In Subsidies

September 6, 2024No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
TOPSHOT-US-POLITICS-BIDEN
Share
Facebook Twitter LinkedIn Pinterest Email

The U.S. economy hemorrhaged manufacturing jobs in August despite the Biden administration’s attempt to boost the industry with hundreds of billions of dollars in subsidies.

The number of people employed in manufacturing in the U.S. fell by 24,000 in August, with the industry down 14,000 jobs year-over-year, according to data from the Bureau of Labor Statistics (BLS). Altogether, manufacturing employment has grown just 0.3% since the Inflation Reduction Act (IRA) and the Chips and Science Act were signed into law by President Joe Biden in August 2022, despite the bills earmarking more than $400 billion in subsidies for the industry. (RELATED: ‘Runway Must Be Running Out’: Massive Government Spending Propping Up Economic Growth, Experts Say)

The August decline is in addition to a recent BLS jobs revision that showed the federal government had overestimated manufacturing employment by 115,000 between April 2023 and March 2024.

“Despite hundreds of billions in Inflation Reduction Act subsidies going to manufacturing and the mind-boggling U.S. deficit, we’ve only seen a less-than-1% increase in total employment,” Aaron Hedlund, director of research at the America First Policy Institute, told the Daily Caller News Foundation. “There is no manufacturing boom.”

More than half of last 12-months of job growth has come from gov’t and the gov’t-dominated healthcare sector; it’s all tax-payer funded, and it’s not at all sustainable: pic.twitter.com/io6ezAWa7g

— E.J. Antoni, Ph.D. (@RealEJAntoni) September 6, 2024

The U.S. national debt currently sits at around $35.34 trillion as of Aug. 4, up from $27.75 trillion when Biden took office in January 2021, according to the U.S. Treasury Department. The increase of more than $7.5 trillion dollars is equivalent to over $57,000 for each of the 131,434,000 households that the Census Bureau estimates were in the U.S. in 2023.

See also  Investors pull record sums from Saudi in Middle East fund flight

Average weekly earnings in manufacturing rose from roughly $1,361 to approximately $1,370 in August, according to BLS data. Weekly earnings remain below their levels from when Biden first took office when adjusted for inflation, with manufacturing salaries rising 17.7% between January 2021 and August 2024, while inflation in that period was roughly 20%, according to the Federal Reserve Bank of St. Louis and the BLS.

In July 2023, the White House issued a press release claiming the U.S. was in the midst of a “manufacturing boom” driven largely by federal initiatives from the Bipartisan Infrastructure Law, the CHIPS and Science Act and the IRA to boost domestic green technology and semiconductor production. $84 billion worth of the nearly $228 billion of manufacturing projects worth more than $100 million that the Biden administration subsidized via the IRA and the Chips and Science Act have been paused or delayed, according to an investigation from the Financial Times published in August.

“All of the Biden-Harris administration claims on job creation are essentially false,” Peter Earle, a senior economist at the American Institute for Economic Research, told the DCNF. “Most of the rise in employment they are taking responsibility for are actually just jobs slowing returning after being destroyed by pandemic policies — most of all, lockdowns. A sizable number of the remainder of jobs that have appeared over the past three-and-a-half years are not jobs created via economic growth and commercial expansion, but rather a product of their massive debt and deficit policies.”

The White House did not immediately respond to a request for comment from the DCNF.

See also  Jim Jordan Just Got Busted With Evidence Of His Hunter Biden Lies

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

Admin Allocating Biden Billions Continue Dwindle Hundreds Jobs Manufacturing Subsidies
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025

Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

May 7, 2025

Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

May 7, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Ron DeSantis Said ‘Pudding’ In An Interview And You Know What Happened Next

July 19, 2023

Northwestern State Cancels Football Season After Player’s Tragic Death

October 27, 2023

‘As Woke As You Can Possibly Get’: Mary Rooke Analyzes Harley Davidson’s Retreat From Woke Policies Amid Backlash

August 21, 2024

How To Collect $1,000 In Monthly Rental Income Without Becoming A Landlord

September 30, 2023
Don't Miss

Trump Announces First Post-Tariff Trade Deal

Business May 8, 2025

President Donald Trump announced Thursday the U.S. has reached a trade agreement with the U.K.,…

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,626)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

The Geopolitics of Critical Minerals

March 5, 2025

Podcaster Jemele Hill Reportedly Leaves Spotify After Demanding They Pay A Black Host As Much As Joe Rogan

June 4, 2023

Human Rights Watch Accuses Saudi Arabia of Massacring Migrants at the Border

August 25, 2023
Popular Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.