Daily Archives: May 29, 2017
WASHINGTON—U.S. industrial output rose sharply in April, the latest evidence that economic growth is picking up following a lackluster start to the year.
Industrial production—a measure of output at factories, mines and utilities—jumped 1.0% from a month earlier, the Federal Reserve said Tuesday. That was the largest gain in more than three years.The strong showing follows a string of upbeat April indicators, including the unemployment rate falling to its lowest level since 2007, solid consumer spending gains at online
Donald Trump has promised repeatedly throughout his campaign to save the U.S. coal industry after years of bankruptcies and dwindling job prospects for coal miners. On Tuesday, he stood before a crowd in Virginia with "Trump Digs Coal" signs and declared that he was the "last shot for the miners."
But experts say Trump's plan, to the extent that he has has one, is removed from the tough economic reality of coal, which has been forced to compete with the declining price of alternatives like natural gas and renewable energy sources, even as federal regulations push the U.S. away from fossil fuels. And many believe that Trump's possibly futile focus on saving the coal industry detracts attention from the real proposals needed to help coal workers transition into new jobs in a new industry. "We really want the solar industry to come to the table now and find ways to get more jobs going in some of these communities that need jobs," says Van Jones, an environmental activist who served as President Obama's first-term green jobs czar. "If we’re concerned about coal country, and I am, we have to do a lot more than just yell."