US employers added just 73,000 jobs last month as labor market weakens in face of Trump trade wars
US employers added just 73,000 jobs last month as labor market weakens in face of Trump trade wars
By PAUL WISEMAN, Associated Press Economics Writer
WASHINGTON (AP) — U.S. employers added just 73,000 jobs last month and Labor Department revisions showed that hiring was much weaker than previously reported in May and June. The unemployment rate ticked up to 4.2%.
The deterioration in the job market is taking place with companies paralyzed by uncertainty over President Donald Trump’s erratic trade policies.
The Labor Department reported Friday that revisions shaved a stunning 258,000 jobs off May and June payrolls.
The stock market tumbled on the news.
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