Home US News US adds just 73,000 jobs in July amid pressure from trade war and ‘increasing signs of fragility’ in labor market

US adds just 73,000 jobs in July amid pressure from trade war and ‘increasing signs of fragility’ in labor market

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US adds just 73,000 jobs in July amid pressure from trade war and ‘increasing signs of fragility’ in labor market

The US economy added 73,000 jobs in July, far lower than expected, amid ongoing concerns with Donald Trump’s escalating trade war.

Forecasters surveyed by Bloomberg had predicted the July jobs report would show a drop in added jobs to around 109,000. The unemployment rate rose to 4.2% from 4.1% in June.

The Bureau of Labor also slashed the number of jobs added in recent months. May’s jobs figure was revised down by 125,000, from 144,000 to 19,000, and June was revised down by 133,000, from 147,000 to 14,000 – a combined 258,000 fewer jobs than previously reported.

Healthcare and social assistance added 73,300 jobs over the month but growth was dragged down

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