On average, tariffs are a jobs killer. They protect one industry while costing others.
Manufacturing was dismal in 2025. 2026 is off to a weak but positive start in 2026 averaging about a thousand jobs a month.
Change In Manufacturing, Construction, Private Education and Health
Construction has had a few great months but its sporadic and tied to AI and utilities, not residential or office construction.
The big source of jobs has been private education and health care, related to the mass aging of baby boomers needing health care services.
Manufacturing and Services Jobs Percent of Nonfarm Payrolls
Manufacturing Percent of Nonfarm Payrolls
1943-01…
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