US Jobless Claims Fall, But Trump's Manufacturing Job Boost Remains Elusive

• US jobless claims decreased by 9,000 to 198,000 in the week ending January 10, down from 207,000 the previous week.
• Despite falling unemployment claims, President Trump's promised manufacturing boom has not materialized, with American factories employing fewer people than during his first term.
• Trump's 'Liberation Day' tariffs, imposed in April 2025, are cited as a major driver of decline, raising costs for many manufacturers, especially small and medium-sized ones.
• Since the tariffs, American factories have lost 72,000 jobs, contrary to Trump's prediction that jobs would 'come roaring back'.
• Tariffs on intermediate goods, like metals and circuit boards, have increased input costs and uncertainty for factories, leading to reduced production and job losses, particularly affecting smaller manufacturers and tech companies like semiconductor makers.

Why It Matters: Despite a fall in overall US jobless claims, Trump's tariffs have led to a significant decline in manufacturing jobs.