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The White House·

President Trump Was Right: Tariffs and Tax Cuts Are Reshoring Manufacturing, Creating Jobs

  • The October jobs report added 165,000 jobs, surpassing expectations by over 100,000.
  • Manufacturing employment rose by 19,000 jobs, marking the strongest monthly gain since 2023.
  • More than 100,000 manufacturing jobs & 120,000 factory construction jobs were created since President Trump returned to office.
  • Manufacturing employment increased for the first time in three years, reversing a prior loss of over 200,000 factory jobs.
  • September's jobs report was revised upward to 60,000 jobs, while August's was revised to 186,000 jobs.
  • Wage growth hit a yearly high, average hourly earnings beat forecasts, & the unemployment rate declined.
  • Private sector job additions exceeded 1.25 million since President Trump returned to office.
  • Jobless claims fell to a new 57-year low.
  • The trade deficit dropped over 12% in September, while U.S. goods exports rose nearly 15% year-over-year to a record high.
  • Capital goods imports reached a record 46% share of total imports.
  • 36% of equipment manufacturers reshored or are reshoring, with 63% making capital investments to expand U.S. production.
  • U.S. manufacturing expanded for the 10th consecutive month.
  • Core capital goods orders rose nearly 14% from a year ago, tracking toward a record share.
  • The economy grew by 3.4% in the third quarter.