US manufacturers are stuck in a rut despite subsidies from Biden and protection from Trump
BlameThePeacock @ BlameThePeacock @lemmy.ca Posts 4Comments 1,932Joined 2 yr. ago
BlameThePeacock @ BlameThePeacock @lemmy.ca
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Labor is too expensive for US manufacturing without significant price increases, and given those price increases consumers are purchasing fewer total goods because they simply can't afford more. Too much of their income is going to housing and food costs, neither of which are highly reliant on manufacturing jobs. Consumer spending in dollars may be up, but total goods consumed has to be down at this point.