Apple touts US job growth despite China trade tensions
As concerns continue about the direction of the U.S economy, Apple touted its contributions to the U.S. economy in updated employment statistics on Thursday, noting that it now employs or contributes to the employment of 2.4 million people across the country.
The iPhone maker said the 2.4 million total includes 90,000 direct Apple employees, as well as roughly 450,000 jobs for its U.S.-based parts suppliers and 1.9 million workers active to some degree in its “App Store.” The company’s total employment imprint is four times larger than it was four years ago.
Apple affirmed that it is on track to create another 20,000 jobs in the U.S. by the year 2023 – a pledge the company initially made in late 2018. In New York, the California-based is looking around Manhattan for between 200,000 and 500,000 square feet of space for a new office according to The Real Deal, Sources told the Ne York real estate publications that the search for new office space is to accommodate new hires the company plans to make.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 165.00 | -2.04 | -1.22% |
Apple shares are up more than 25 percent this year as growth in the company’s services business has offset sagging iPhone sales and the impact of an ongoing U.S.-China trade dispute. The company asked the Trump administration in June to exempt its products from further tariffs, warning that the duties would limit its contributions to the U.S. economy and provide a boost to its international rivals.
The company said it spent a combined $60 billion with 9,000 U.S.-based suppliers in 2018. North Carolina, Florida and Pennsylvania saw significant increases in Apple-supported jobs.
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Apple is set to add a combined 3,200 employees in expansions in San Diego and Seattle.