An unexpectedly weak jobs report for July brings into question the health of the U.S. economy as President Donald Trump pushes ahead with his tariff policy.
The U.S. labor market slowed sharply over the past three months, according to new data released Friday, amid ongoing concerns over President Donald Trump’s tariff policies.
U.S. employers added 73,000 jobs in July, far lower than expected. In a survey by Bloomberg before the release of the report, forecasters had expected the nation to add around 109,000 jobs in July.
Hiring figures for May and June were also revised down sharply — a combined total of 258,000 fewer jobs were added over the past three months compared to previous reports.
Meanwhile, the unemployment rate rose to 4.2 percent from 4.1 percent in June.Why It Matters
The unexpectedly weak report brings into question the overall health of the U.S. economy as Trump escalates his global tariff and trade policy.
