U.S. employers added just 73,000 jobs last month as labor market weakens in face of Trump trade wars
Summary
Last month, U.S. employers added 73,000 jobs, which is less than experts expected. The unemployment rate increased to 4.2% as more people left the workforce. Economists say trade policies and tariffs are affecting job growth.Key Facts
- U.S. employers added 73,000 jobs last month, below the expected 115,000.
- Revisions removed 258,000 jobs from May and June figures.
- The unemployment rate increased to 4.2%.
- The number of unemployed people rose by 221,000.
- Tariffs and trade policies by President Trump are linked to the slowdown.
- Manufacturers cut 11,000 jobs in July.
- The federal government lost 12,000 jobs last month.
- Healthcare companies added 55,400 jobs, making up most of the new jobs.
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