Government Data is now showcasing that Trump’s Tariffs have helped raise wages and create new jobs within the American steel industry.
Yet there are few signs that the tariffs are having a negative effect on Americaâ€™s metal using industries. In fact, American businesses that make the most use of metals are adding jobs at a rate that is four times as fast as the broader economy, according to data from the Department of Labor.
Here are is the breakdown by type of job
The fabricated metals sectorâ€“where workers transform metal into intermediate or end products other than machinery, computers and electronics, and metal furnitureâ€“added jobs in March, April, May and June. Over that period, employment in fabricated metals grew by one percent, compared with just a quarter of a percentage point growth in the broader economy. In June alone, fabricated metals added 7,000 jobs.
Machinery manufacturing added jobs in each of the four months since the announcement, including 5,000 in June. Employment in the sector grew by a whopping 1.7 percent.
Transportation manufacturing, the sector that includes automakers and aerospace, added jobs in March, April, and June. During the period it grew by 15,000 jobs, or 0.9 percent
Wages also are on the rise
Wages for the workers are rising as well. The hourly wage for non-supervisory workers in machinery manufacturing and fabricatedÂ metals rose by around 0.8 percent between March and June, an annualized rate of 2.4 percent. Wages in transportation rose 0.7 percent, for an annualized gain of 2.1 percent.
It is unclear how businesses profit margins are responding to tariffs but to this point it seems it isn’t stopping these companies from expanding or raising the pay of there workers. The entire idea behind ‘Fair Trade’ is to protect American workers jobs and wages from being shipped overseas.