US job growth missed expectations in July, government data showed Friday, while revisions to hiring figures in recent months brought them to the weakest levels since the Covid-19 pandemic.<\/p>\n
The employment numbers appear to signal risks in the key labor market in the world’s biggest economy, as companies grapple with President Donald Trump’s sweeping tariffs.<\/p>\n
The world’s biggest economy added 73,000 jobs last month, while hiring numbers were revised significantly lower for May and June, the Labor Department said.<\/p>\n
The jobless rate nudged up from 4.1 percent to 4.2 percent.<\/p>\n
Experts have warned that private sector firms appear to be in a wait-and-see mode due to heightened uncertainty over Trump’s rapidly changing trade policy.<\/p>\n
With tariff levels climbing since the start of the year, both on imports from various countries and on sector-specific products such as steel, aluminum and autos, many firms have faced higher business costs — which some are now passing along.<\/p>\n
On Friday, the Department of Labor said hiring numbers for May were revised down from 144,000 to 19,000. The figure for June was shifted from 147,000 to 14,000.<\/p>\n
This was lower than job creation levels in recent years. During the pandemic, the economy lost jobs.<\/p>\n
bys\/wd<\/p>\n
\u00a9 Agence France-Presse<\/p>\n","protected":false},"excerpt":{"rendered":"
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