Stiglitz: U.S. economy 'not great' as manufacturing and blue-collar jobs fall
Feb 22nd 2026
Nobel laureate Joseph Stiglitz told CNBC the economy is weakening after declines in manufacturing and other blue-collar jobs, with tariffs cited as a contributor and a Supreme Court ruling putting $175 billion in tariff revenue at risk.
- Stiglitz said on CNBC that the economy is 'not great' and that prospects are worsening.
- A Joint Economic Committee analysis found 108,000 fewer manufacturing jobs last year versus a 59,000 shortfall in earlier BLS data.
- Jobs data from February 2025 to last month show a 166,000 total loss in blue-collar jobs including construction, mining, and warehousing.
- Economists and business leaders say tariffs have raised input costs and increased uncertainty, which has discouraged hiring in manufacturing.
- The Supreme Court ruled the Trump administration cannot impose tariffs under the International Emergency Economic Powers Act, possibly forcing about $175 billion in refunds and raising questions about future tariff policy.