Trump's first 大統領の 大臣の地位 lags 職業, 株式市場 growth
By Tim McLaughlin
BOSTON, Jan 30 (Reuters) - In his first 演説（する）／住所 to the U.S. 議会, 大統領 Donald Trump あられ／賞賛するd General モーターs Co , Harley-Davidson Inc, Intel Corp and seven other companies as innovators and 職業 creators, 予報するing they would be の中で those producing "tens of thousands of new American 職業s" and 投資するing "billions and billions of dollars."
Nearly three years later, with 失業 at the lowest in half a century, that first 大統領の 大臣の地位 has つまずくd to 実行する that 予測（する）. While Trump's 10 companies have spent billions on new factories and 昇格s, they failed to keep pace with new 雇うs, によれば a Reuters 分析 of the group's 資本／首都 支出s and headcount since 2017.
集団の／共同の 雇用 at Fiat Chrysler Automobiles NV , Ford モーター Co, GM, Harley, Intel, Lockheed ツバメ Corp, Sprint Corp, Walmart Inc and small biotech Amicus 治療力のあるs has remained flat at about 2 million 労働者s, the 分析 shows. In the same period, total U.S. 雇用 has risen by 4.5%.
塀で囲む Street has not smiled extensively on Trump's selected companies either.
Most of the companies´ total 株主 return has 追跡するd the S&P 500's 47% 前進する and 部門 （判断の）基準s since Trump´s February 2017 speech. Only four of the 10 have outperformed the 幅の広い （判断の）基準 while five have lagged the wider market by 35 points or more, as of Jan. 28.
White House 副 圧力（をかける） 長官 Judd Deere 拒絶する／低下するd to comment about the individual companies, but 公式文書，認めるd more Americans are coming off the sidelines and finding work, and U.S. 給料 and 消費者 信用／信任 are rising.
"にもかかわらず headwinds from 厳しい 通貨の 強化するing and a 全世界の 後退，不況, 大統領 Trump's 協議事項 of fair and 相互の 貿易（する）, lower 税金s and 規制緩和 has created the strongest economy we've ever seen," he 追加するd.
Still, struggles within the Trump 大臣の地位 強調する how the 大統領，／社長's 経済的な and immigratio n 政策s have produced uneven results as he 捜し出すs another 称する，呼ぶ／期間／用語 in the White House.
Since he took office, only Fiat Chrysler and 弁護 請負業者 Lockheed ツバメ have 追加するd a meaningful number of 逮捕する new 労働者s.
Lockheed's U.S. headcount is up about 15%. Fiat's 雇用 is up about 11%, with some 伸び（る）s coming from broader North American 操作／手術s. The 逮捕する 伸び（る） of 職業s at the two companies is about 22,800 since the end of 2016, によれば company 公表，暴露s.
"What a 広大な／多数の／重要な brand Jeep is," Trump said in a shoutout to Fiat Chrysler's hot-selling 乗り物, before 調印 a 関税 協定 with 中国.
By contrast, the 連合させるd 全体にわたる U.S. headcount at Ford and GM has 拒絶する／低下するd by about 10,000, or 5%, to 184,000, にもかかわらず 投資するing billions of dollars in their 自動推進の 工場／植物s. (For a graphic click https://tmsnrt.rs/315LHzh)
For a broader picture, the U.S. economy has produced an 普通の／平均（する） of 193,000 new 職業s per month, over the past three years. But even with the 利益 of Trump's 2017 大規模な 法人税 率 削減（する）, that is 14% いっそう少なく than the 224,000 職業s per month created during the last three years of Barack Obama's 行政, によれば U.S. Department of Labor 人物／姿／数字s.
"Trump 勝利，勝つs some, loses some when compared to Obama," said 示す Zandi, 長，指導者 経済学者 at 財政上の 研究 会社／堅い Moody's Analytics, referring to さまざまな 経済的な 指示する人（物）s like 株式市場 伸び（る）s (more under Trump), 連邦の 予算 赤字 (いっそう少なく under Obama), 直す／買収する，八百長をするd mortgage 率s (lower under Obama) and 世帯 逮捕する 価値（がある） (higher growth 率 under Trump).
But Zandi and four other 経済学者s interviewed for this story said Trump 始める，決めるs himself apart with a 制限する 移民／移住 政策 that is 悪化させるing labor 不足s across 職業s that 支払う／賃金 low 給料 and 最高の，を越す-end salaries.
"This is going to become a very 厳しい 妨害 to growth," Zandi said. "We're used to seeing 200,000 new 職業s created every month, but it will be one-fourth of that a few years from now."
The U.S. l abor 軍隊 has grown at an 年次の 率 of 0.5% in the 10 years since the 広大な／多数の／重要な 後退，不況 ended. But in the other four 最近の 回復s, annualized labor 軍隊 growth was more than 二塁打d, 越えるing 1%, によれば 経済学者s at the 連邦の Reserve Bank of Dallas.
一方／合間, a 重要な plank in Trump's 協議事項 - 再構築するing the country's 製造業の base - recently took a 攻撃する，衝突する when the 部門 fell into its deepest 低迷 in more than a １０年間.
But there are plenty of 有望な 位置／汚点／見つけ出すs, big and small.
U.S. headcount at 弁護 請負業者 Lockheed ツバメ, for example, has 殺到するd 15% to about 102,300 従業員s since the end of 2016 as it 捜し出すs 十分な-率 生産／産物 of its F-35 闘士，戦闘機 jet, によれば company.
Lockheed 株 have climbed, too, producing a total return of 76% since Trump´s 2017 speech, easily より勝るing the S&P 500´s total return of 47% during that time.
Amicus 治療力のあるs Inc, which Trump あられ／賞賛するd for 扱う／治療するing rare metabolic disorders, has nearly 二塁打d its U.S. headcount to more than 500 people, によれば U.S. Department of Labor 公表，暴露s. Its 株 are up 39% since Trump's speech, 上げるing its market value to more than $2 billion. The Nasdaq US Small Cap Biotech 索引 is up 61% during that time.
SPENDING BILLIONS
In 2018, the Trump 大臣の地位 of companies collectively used about $60 billion from their cash flows on 資本／首都 支出s to make new 製品s and to remain 競争の激しい, によれば their 財政上の 声明s. Intel, for example, 骨折って進むd $29.6 billion into 研究 and 開発 and 資本／首都 投資s during 2019, up 33% from 2016 levels. It 計画（する）s to 投資する more than $7 billion to 完全にする a 半導体素子 工場／植物 in Arizona, one of the largest construction 事業／計画（する）s in the country.
"We 心配する it will create 3,000 Intel 職業s," company spokeswoman Chelsea Hughes said. Intel's total return is 99% since Trump 最高潮の場面d the company in his first 演説（する）／住所 to congress.
After a 最近の 殺到する in its 在庫／株 price, Intel is （警官の）巡回区域，受持ち区域ing th e 91% total return of the S&P 500 半導体 索引 . The （判断の）基準 含むs high-飛行機で行くing 競争相手s like Nvidia Corp, whose 株 are up 147% since Trump's 演説（する）／住所.
Japan´s Softbank Corp is also 投資するing billions of dollars in U.S. startups, and has created thousands of 職業s, with help from American 投機・賭ける 資本／首都 会社／堅いs and 相互の 基金s.
But as seen by the WeWork saga, and other troubled 投資s like the dog walking company, Wag Labs Inc, a lot of those 職業s could disappear 夜通し.
Other companies Trump touted that have kept payrolls inline are getting mixed reviews from 投資家s.
株 of Harley-Davidson have dropped 34% since the 大統領，／社長 あられ／賞賛するd the "magnificent motorcycles" in his first 演説（する）／住所 to congress. Trump's 貿易（する） 緊張s, however, have 傷つける the Milwaukee, Wisconsin-based company, which last year struck a 取引，協定 to build a smaller motorcycle in a 投機・賭ける with a Chinese company. Harley-Davidson´s 最新の 利用できる headcount of 5,900 is 負かす／撃墜する わずかに from 6,000 at the end of 2016, によれば company 公表，暴露s.
Trump has 非難するd the company for moving some of its 生産／産物 沖合いの／海外の. Harley Davidson did not return messages 捜し出すing comment.
The 経済学者s Reuters spoke with applaud the 投資s, but they say big chunks of 資本／首都 go toward 昇格s and automation, not やむを得ず 逮捕する 伸び（る）s in 労働者s.
"There's not a lot of trickle 負かす／撃墜する to the 地元の economy," said Sarah Low, a University of Missouri-Columbia 経済的なs professor who 焦点（を合わせる）s on 雇用 in 田舎の areas.
(報告（する）／憶測ing By Tim McLaughlin; editing by Dan 燃やすs and Edward Tobin)
