U.S. Job Growth Slows Amid Trade Uncertainty
By Paul Wiseman, Associated Press
Washington, D.C. — The job market in the U.S. exhibited signs of slowing down in May as employers added 139,000 jobs, down from a revised 147,000 in April, according to the Labor Department. This figure, which surpassed economists’ expectations of 130,000, follows a significant revision that cut 95,000 jobs from March and April totals. The unemployment rate remains low at 4.2%.
While healthcare added 62,000 positions and dining establishments contributed another 30,000, the federal government saw its biggest job loss since November 2020, shedding 22,000 roles, influenced by policies from the Trump administration. Manufacturing also declined by 8,000 jobs, indicating potential challenges as businesses grapple with higher costs due to tariffs.
Though average hourly wages increased by 0.4%, broader economic indicators remain mixed. Job openings rose unexpectedly to 7.4 million, yet layoffs ticked upward, suggesting a cautious workforce. Economists warn that Trump’s controversial trade policies might create ripple effects on hiring practices moving forward. Overall, while the labor market is still resilient, observers anticipate potential softening as the impact of tariffs and immigration policies unfolds.
Note: The image is for illustrative purposes only and is not the original image of the presented article.
