May 2, 2014: A lot to chew on

Posted by mmcmullan on 05/02/2014

Good afternoon,

And welcome to the Early Shift! Big day today. We’ve got a lot happening out there in the world.

First of all, it’s Jobs Report Day, the first Friday of each month during which we get employment data from the government ... and we update the #AAMeter, our running tally toward the 1 million manufacturing jobs that President Obama promised to create during his second term.

So ... How’d things go? Well, it was a good report for the wider economy – 288,000 jobs gained – but manufacturing didn’t share in the wealth. Only 12,000 manufacturing jobs were created nationwide.

Hey, at least it’s a nudge in the right direction. But it’s well off-pace toward fulfilling the president’s manufacturing jobs promise (right now we'll need to add more than 27,000 manufacturing jobs each month to pull off that feat).

Elsewhere: The president’s trade agenda isn’t going over so well on Capitol Hill. Yesterday, the White House’s top trade official, Michael Froman, appeared before the Senate Finance Committee to talk about some of the details in the Trans-Pacific Partnership. Quite a few of the Democrats in the room wanted to talk about currency manipulation, writes the Huffington Post’s Zach Carter:

Sen. Chuck Schumer (D-N.Y.) pressed Froman on the matter Thursday, calling 'strong and enforceable language on currency manipulation' a 'vital first step' for Democratic support.

'Has it been discussed in the TPP negotiations?' Schumer asked.

'Not as of yet,' Froman replied.

'I'm not sure how that passes,' said Sen. Debbie Stabenow (D-Mich.) a few minutes later. 'Unless that's addressed.'

And last but not least: U.S. Steel and the United Steelworkers are taking issue with the flood of imported of steel and pipe that is being dumped into the domestic market at prices far below fair market value. They're joining with the Alliance for American Manufacturing to hold a series of rallies to tell Washington: Fully enforce our trade laws.

Click here to learn more about the trade case in question and find a rally near you (the first event happens this Monday in Lorain, Ohio).

And that’s it. That’s a lot to chew on. Get to reading! And we’ll see you Monday.

-AAM

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