“The U.S. Bureau of Labor Statistics’ jobs report last month showed there were 6,000 fewer manufacturing jobs in October, despite nonfarm payrolls increasing by 119,000. The slip in factory roles have brought the tally of lost manufacturing jobs since Trump’s April tariff push to 59,000, according to the data.
Laura Ullrich, director of economic research at the Indeed Hiring Lab, told Fortune the shrinking manufacturing sector is, in part, a result of tariffs disproportionately hitting intermediate goods, which are products used in the process of creating a finished good. This can hike up production costs, forcing companies to slash headcount. Pantheon Macroeconomics analysts Samuel Tombs and Oliver Allen similarly said in September that shrinking wage growth was a result of tariff-hit companies trying to maintain margins amid rising input costs.”
https://finance.yahoo.com/news/elon-musk-says-warned-trump-170848786.html