What’s in store for employment in 2017?
With a new administration about to take over, many are wondering it 2017 will be a good year for jobs. Odds are that there will be very little in the way of jobs going away in 2017 as the policies of the previous administration will, for the most part, still be in place so the general consensus is that job growth in 2017 will be similar to 2016.
The United States has a strong economy at this time so 2017 will be a good year for jobs as well as business in general. It would take something huge for that to differ much and I am expecting job growth to be even better in 2017 as well as an increase in the GDP.
President elect Trump is big on American manufacturing staying here despite that his clothing lines are made in China and will do what he can to make sure that no jobs are lost in 2017 and beyond to foreign countries or for reasons that make no sense. His administration is planning on pushing hard to get some of the manufacturing jobs that were going to leave to foreign lands to remain right here on American soil.
There may be a cost to some of those jobs staying here in 2017 but this is not unusual in the economic climate as most of us know. Most municipalities offer incentives for large companies to relocate to their area as that brings new jobs to the areas and helps the economies in those areas. In general they hope to recoup some or all of the incentive money by an increase in the amount of local taxes collected and once in a while that actually works. The other reason they offer incentives is the hope that the company will remain after the incentive period as well as attracting other companies to the region to build the region in terms of economic growth all around.
Trump’s team has already reached out to some of the off shore companies to try and bring them back to American soil and that would make 2017 a good year for jobs all across the board. As companies relocate temporary jobs are produced in terms of infrastructure, construction and such and permanent jobs that would include both labor and executive positions. That could be a very nice boost to various local economies and to the entire economy in the United States.
On the flip side, Trump is talking about trickle down economics and how he is a fan of that and the he wants to implement that. That is scary for jobs down the road but should not affect the jobs in 2017. I remember when President Reagan had his trickle down program and how badly interest rates jumped as well as how hard it was to make a living as jobs were scarce. Fortunately for me I had a small business and was able to survive and even did pretty good with the crazy interest rates as I had a few dollars laying around.
Housing was hit hard though as a mortgage was an impossibility and homes had to be sold with the owner holding paper. There were some people talking about jumping out of buildings for a while it was so bad. Let’s hope that Mr. Trump does not take us to that place or we will have job issues from the Atlantic to the Pacific.
But let’s not rain on a good parade and realize that 2017 is going to be a great year for jobs!