Among the signature accomplishments of our new Trump.45 Administration in the economic realm is the substantial improvement in the nation’s jobs picture, begun even before Trump took office. Just ask him. We heard about Carrier, Ford, and Softbank very early on. There were some nasty naysayers who claimed Trump was hogging credit for work he didn’t perform, that he was just glory grabbing to make himself look better.
Would our President ever contemplate such a rude and dishonest gesture? Absolutely not, trust me. He has said so himself, whenever and wherever anyone will listen. The Tribes are convinced.
I say let it be. But as Paul Harvey once intoned on the radio each day, there is the Rest of the Story. Since El Presidente is to receive full credit as the Jobs Creator, so is he also due full and unreserved credit as he Jobs Destroyer.
We needn’t fear a lack of publicity for entries in the Jobs Credit Ledger by our Dear Leader. Twitter to the rescue. In the interest of completely fair and balanced coverage, here is a small addition to the permanent record, the Jobs Debit Ledger, for the same time frame. Basic double entry bookkeeping taught to beginning economics and accounting students world wide. Something familiar to Trump.45 as a renowned real estate developer.
Just as Trump’s glory in jobs renewal is an ongoing story until we get to the 25 million jobs he has promised to bring to America’s reawakening, so is the Jobs Debit Ledger a continuing project.
You can check out the sources for yourself, to be certain the low-down scum Press is not fudging the data, something our Dear Leader would never think of doing. Fair’s fair.
To begin:
Jobs Debit Entry #01: Macy’s
Macy’s Logo Since 2007
From CNBC, January 4, 2017:
As part of Wednesday’s announcement Macy’s said it will eliminate layers of management to cut costs and make more agile decisions. It also will work to reduce other non-payroll costs. As a result of these steps, the company estimates its work force will be cut by 6,200.
Another 3,900 workers will be displaced by the store closures and some of these employees could be reassigned. As part of a strategy to streamline its portfolio, Macy’s moves will save the company an estimated $550 million a year starting in 2017.
So this huge national retailer will close 100 stores and layoff, fire, displace, make redundant, and/or divest itself of 10,100 actual currently employed workers. Maybe a few of them could be reassigned (to soften the blow, the number comfortingly vague per the announcement).
Announced Job Losses #01: 6,200-10,100
Trump’s Jobs Debit Entry; -10,100
Jobs Debit Entry #02: J.C. Penney
J C Penny Logo Since 2013
From CNBC, February 24, 2017:
J.C. Penney finally lifted the lid on its plans to downsize its fleet, telling investors on Friday that it would close between 130 and 140 of its stores over the next few months.
The list of impacted stores will be released next month, once sales associates and other staff have been notified. Most of the closures will occur in the second quarter.
The locations Penney’s will shutter represent 13 to 14 percent of its store portfolio but generate less than 5 percent of annual sales.
Penney’s will provide roughly 6,000 employees with a “voluntary early retirement program” for workers of a certain age and tenure.
{This announcement gently glides over the total number of fired and displaced workers, but we have some informative ancillary data. J.C. Penny will close 13% of its stores, and 6,000 employees is almost 6% of its current workforce (105,000). In a previous round of store closures several years ago, the company laid off 2,250 workers as it shut down 39 locations. The proportional loss for 130 stores would be 7,500 job losses. The figure of 6,000 seems in the general ballpark, if a bit on the low side.]
This second large national retailer will close 130-140 stores ,largely within the next 6 months, and layoff, fire, displace, make redundant, and/or divest itself of 6,000 or thereabouts actual current workers
Announced Job Losses #02: 6,000
Trump’s Jobs Debit Entry; -6,000
Summary of Selected Jobs Debit Ledger (January 4- February 24, 2017)
Trump’s Cumulative Public Reported Job Losses: -16,100