Cracks emerge in US jobs market as Fed officials sound warning
The Peninsula
Washington: The US employment market is showing weakness as companies grappled with President Donald Trump s sweeping tariffs, government data showed...
Washington: The US employment market is showing weakness as companies grappled with President Donald Trump's sweeping tariffs, government data showed Friday, while two central bank officials warned on labor risks in the world's biggest economy.
US job growth missed expectations in July, the data showed, and revisions to hiring figures in recent months brought them to the weakest levels since the Covid-19 pandemic.
The employment data points to cracks in the key jobs market as companies took a cautious approach in hiring and investment and puts pressure on the central bank as it mulls the best time to cut interest rates.
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.
The jobless rate nudged up from 4.1 percent to 4.2 percent.
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