Nobel Prize-winning economist Joseph Stiglitz has a poor prognosis for the state of the economy: “Not great right now,” he said on CNBC’s “Squawk Pod” on Thursday. “And the prospects are that it’s going to get worse.”
In a criticism of President Donald Trump’s economic policies, Stiglitz said one of the greatest threats to the precarious health of the U.S. economy was slumping blue-collar jobs, including a scarcity of manufacturing roles.
“Do you know what happened to jobs in manufacturing in the last year? They’re down,” he said. “[Trump] didn’t succeed over the last year in bringing back manufacturing jobs.”
A Joint Economic Committee analysis published earlier this month revealed 108,000 fewer manufacturing jobs last year, nearly double the estimation from Bureau of Labor Statistics data in November, which found 59,000 fewer jobs. Jobs data…
