The number of companies announcing a ramping up of investment in the U.S., and the corresponding rush to create jobs for Americans, have jumped to a quicker pace since the election of Donald J. Trump to the White House.
A look at announcements from various large companies shows that the private sector is becoming excited by the idea of a Trump presidency.
Carrier Air Conditioner Manufacturing: 1,000 Jobs
First out of the block came the Carrier air conditioner manufacturing company. Late in November, Carrier announced it had reached an agreement with the President-elect to keep up to 1,000 jobs in Indiana, pulling back on plans to ship all manufacturing jobs to Mexico.
SoftBank Telecommunications: 50,000 Jobs
On the heels of the Carrier announcement, Trump met with SoftBank Group Corp. founder and Chief Executive Officer Masayoshi Son at Tump Tower in New York City. As a result of the meeting, Trump announced that the Sprint cell network owner was pledging to invest $50 billion in the U.S. and planned to create as many as 50,000 new jobs.
U.S. Steel: 10,000 Jobs
Next, during a December 7 broadcast of CNBC’s Power Lunch, the CEO of U.S. Steel Mario Longhi said that after the election of Donald Trump, he has “felt an environment of positive optimism where forces are converging to provide for a better environment,” which he hopes means he can rehire up to 10,000 employees who had been laid off.
IBM: 25,000 Jobs
A week after U.S. Steel noted its bullish outlook on the U.S. economy, computing giant IBM also found its outlook had brightened and reported that it expects to create up to 25,000 new jobs in the U.S.
Small Businesses Suddenly Optimistic
Added to the companies listed above is the positive feeling for the immediate future expressed by the National Federation of Independent Business (NFIB), which recently said the small business climate has already improved since the November 8 election.
“What a difference a day makes,” said Juanita Duggan, president and CEO of NFIB. “Before Election Day small business owners’ optimism was flat, and after Election Day it soared.”
The NFIB pinned its hope for the continued optimism by small business owners on a Trump presidency.
Duggan explained, “Federal taxes, regulations, and Obamacare are the three biggest impediments to running a small business in America. Small business owners have high expectations that those problems will be addressed.”
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