Guys, remember all the economic anxiety and how Possum Hollar rushed to vote for The Grifter because he was going to open factories and what not? Bloomberg says maybe not happening so much:
The two swing states lost the most manufacturing jobs in the past 12 months, bucking the national trend. In Pennsylvania, home to steel mills, the number of factory positions fell by about 8,000 and in Wisconsin the loss was just over 5,000, according to regional data from the Labor Department Friday.
The states are important for Trump, whose pledges to reignite the sector are a cornerstone of his economic message. In the past year, though, manufacturing has weakened amid a trade war with China and slower global demand, making some companies hesitant to invest….
The data tell a different story: The industry slipped into a recession during the first half of 2019 and one gauge of manufacturing direction, the Institute for Supply Management’s index, showed a contraction in August for the first time since 2016. While data from the Federal Reserve showed some improvement last month, with production of goods increasing more than expected, the broader picture remains challenging.
So, how are the trade wars going, you ask? Oh, about as well as a smooth running Trump Machine:
The outlook for a near-term trade deal between the White House and China darkened on Friday, as President Trump called China a “threat to the world” and dismissed the idea of an interim agreement the same day Chinese officials canceled a planned visit with farmers in Montana and Nebraska. The combined news spooked investors, and the Dow Jones Industrial Average lost 160 points, or around 0.6%. Negotiations are set to continue, but the twin events on Friday suggested there is not an urgency on either side to complete an agreement.
And Axios informs us:
You might have heard that the poverty rate in America has finally fallen below its pre-recession level — but what has been less reported is that the number of Americans living in poverty is still higher than it was in 2007.
Why it matters: It’s even higher than it was in 1964, when the War on Poverty began.
So we got that workin’ for us.