--- title: "Trump's Jobs Plan Has Been An 'Abject Failure,' Says Economist Paul Krugman: 'Significant Numbers' Of Americans Regret Their Choice" description: "Economist Paul Krugman criticizes Trump's economic agenda, labeling it an 'abject failure' for not delivering on job creation promises. He argues Trump's tariffs weakened U.S. competitiveness, hurting" type: "news" locale: "en" url: "https://longbridge.com/en/news/270564747.md" published_at: "2025-12-23T02:23:19.000Z" --- # Trump's Jobs Plan Has Been An 'Abject Failure,' Says Economist Paul Krugman: 'Significant Numbers' Of Americans Regret Their Choice > Economist Paul Krugman criticizes Trump's economic agenda, labeling it an 'abject failure' for not delivering on job creation promises. He argues Trump's tariffs weakened U.S. competitiveness, hurting employment in key sectors. Krugman notes many Americans regret voting for Trump due to unmet economic expectations. He highlights that employment in manufacturing, construction, and mining increased under Biden but fell under Trump. Krugman warns tariffs raise costs for domestic producers, making them less competitive. Economist Justin Wolfers echoes concerns, noting stalled job creation despite economic growth. Nobel Prize–winning economist **Paul Krugman** said President **Donald Trump's** economic agenda has failed to deliver on its core promise of job creation, arguing that his tariffs and other policies have instead weakened U.S. competitiveness and hurt employment in key sectors. ## Trump’s Jobs Plan An ‘Abject Failure’ In his newsletter on Monday, Krugman said, “a significant number of Americans who voted for Donald Trump in 2024 now regret their choice,” with disappointment largely driven by Trump's failure to meet economic expectations. While much of the public debate has focused on Trump's pledge to bring down prices, Krugman said that “the main goal of his policy agenda wasn't lower prices, it was job creation.” **See Also: Rand Paul Rejects JD Vance As Trump’s Heir Apparent In 2028, Slams ‘Pro-Tariff Protectionists’** Trump had pledged to revive U.S. manufacturing through sweeping tariffs, deregulation and the mass deportation of undocumented workers, triggering a hiring doom for American workers. Instead, Krugram said the results have moved in the opposite direction, adding, “even on its own absurd terms, the MAGA jobs strategy has been an abject failure.” According to Krugman, employment in manufacturing, construction and mining increased under former President **Joe Biden**, in part due to his green energy policies. However, employment across many of these sectors has fallen “since Trump took office,” following his reversal of these policies. He added that official employment figures may ultimately be revised lower, making the figures under Trump much worse. Krugman said that Trump's trade agenda rests on several fundamental misunderstandings, including his belief that the elimination of the U.S. trade deficit can help boost manufacturing employment. Quoting research from the Peterson Institute for International Economics, Krugman noted that such a scenario would raise the share of U.S. manufacturing production jobs by less than one percentage point. “They didn't do the math,” he said. He also warned that tariffs are raising costs for domestic producers, thus making them “less competitive” against foreign manufacturers. ## Fragile Labor Market Despite Economic Growth Economist **Justin Wolfers** echoed similar concerns on Monday, saying that the American economy had effectively stalled, with “close to zero jobs” being created since the “Liberation Day” tariffs were announced in early April. The U.S. economy is expected to grow by 2% in 2026, according to a National Association of Business Economics Survey, which marks an uptick from 1.8%, which was projected in October, and 1.3% in June. However, most respondents expect job creation to remain subdued throughout the year, with unemployment forecasted to stay at 4.5%. According to recent analysis by the Bank of America’s Global Research, the U.S. economy is being propped up by AI spending, without which the nation would have entered a recession. The report stated that AI spending contributed 62.5%, or a full percentage point, to the 1.6% GDP growth during the first six months of 2025. **Read More:** - **‘That Is Not Strategy’—Investor Kevin O’Leary Says Tariffs Were Meant To Be Reciprocal And Simple. Instead, They Created ‘Chaos Overnight’** *Photo Courtesy: noamgalai from Shutterstock* ### Related Stocks - [DJT.US - Trump Media & Tech](https://longbridge.com/en/quote/DJT.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | 特朗普提出的 10% 信用卡限額提案遭遇批評 | 銀行警告稱，10% 的利率上限可能導致數百萬個信用賬户關閉 | [Link](https://longbridge.com/en/news/272913163.md) | | 美眾議院投票否決對加拿大加徵關税 6 名共和黨議員倒戈 | 美國眾議院通過法案，試圖終止川普對加拿大的關税，顯示出白宮經濟政策的脆弱性。儘管 6 名共和黨議員倒戈，法案通過的可能性仍然微乎其微。川普威脅否決該法案，並考慮退出《美墨加貿易協定》，加劇北美貿易緊張。共和黨在保住眾議院和參議院控制權方面面 | [Link](https://longbridge.com/en/news/275693309.md) | | 特朗普與李龍基｜阮子曦 | 環球股市近期持續下跌，作者探討美國總統川普與 TVB 演員李龍基的相似之處。兩位「皇帝」級人物都擅長製造話題和吸引眼球，尤其在感情方面表現突出。然而，作者認為他們在真正改變歷史或劇情方面的貢獻有限。李龍基以其演藝事業和感情新聞維持存在感，而 | [Link](https://longbridge.com/en/news/275110700.md) | | 特朗普會以總理，稱同伊朗達成協議將是 “首選” | 以美領導人討論應對美伊談判失敗的 “共同行動方案”。特朗普表示，他已告知內塔尼亞胡，如果能夠達成協議，這將是他們的首選方案；若無法達成協議，他們只能拭目以待。以總理被曝向特朗普提要求：與伊朗的協議不應設置到期時間。伊朗外長重申就和平核計劃達 | [Link](https://longbridge.com/en/news/275665871.md) | | 當貶值預期遭遇 “強美元” 承諾，貝森特、沃什誰將成為 “背鍋俠”？ | 特朗普青睞弱勢美元，與其財長貝森特、美聯儲主席提名人沃什堅持的 “強美元政策” 形成直接衝突。為調和矛盾，華盛頓醖釀關税、干預匯市與貨幣政策聯動的 “雙軌策略”，但這可能動搖美聯儲獨立性。當前的政策模糊僅是權宜之計，一旦通脹反彈或美元失控， | [Link](https://longbridge.com/en/news/275596938.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.