Job growth in the U.S. experienced a significant slowdown, with only 73,000 jobs added in the last month, well below expectations. Revised job figures for May and June showed much less job growth than originally thought. This slowdown has raised concerns in the stock market, with the Dow Jones dropping by 542 points. Additionally, the Federal Reserve now faces pressure to reduce interest rates while managing inflation that has been impacted by tariffs. New tariffs have been enforced, including a 35% tariff on Canadian goods and a planned 15% on other imported products.
The U.S. added just 73,000 jobs in the last month, a sharp decline which revised previous job figures downwards, indicating a weaker labor market than previously thought.
The news of job growth slowdown caused investors to react negatively, leading to a drop in the Dow Jones Industrial Average by 542 points, affecting market confidence.
The Federal Reserve faces pressure to cut interest rates due to the labor market weakness while also needing to monitor rising inflation linked to tariffs.
President Trump’s new tariffs, including a 35% tariff on Canadian goods and a planned 15% tariff on various other products, are set to impact the economy.
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