Economy

Federal Contractors Outsource Record Number of Jobs Under Trump

JM Ashby
Written by JM Ashby

Industry trade group Good Jobs Nation analysed data from the Department of Labor and found that a record number of jobs have been outsourced by federal contractors since Trump's election.

via Bloomberg:

Since Trump’s election in November last year, the top 100 federal contractors have been certified as shipping a record 10,269 American jobs abroad, according to the report.

Of those, four federal contractors each had more than 1,000 offshoring-related job losses certified: General Motors, Boeing, Pfizer, and United Technologies, which is the parent company of Carrier. The furnace and air-conditioner manufacturer made headlines a year ago when then-President-elect Trump said he had reached a deal to keep open Carrier’s Indiana plant, preserving local jobs.

Are we Great Again yet?

I jest, but Trump is almost certainly going to make things worse especially if, as it appears, he will decide to unilaterally withdraw from the North American Free Trade Agreement (NAFTA).

Industry groups have made it clear that withdrawing from NAFTA will lead to even more outsourcing because it will be cheaper to pay a small tax to import products from Asia, such as cars and trucks, rather than build whole new factories and reorganize their entire supply chain in North America.