‘The eye of the hurricane’: Why the U.S. job market has soured, economists say

Key Points

The July 2025 jobs report suggests a sharper slowdown in U.S. job growth than previously thought, economists said.
President Donald Trump’s tariff policy is among the economic headwinds contributing to slower job creation and hiring, economists said. Immigration policy and relatively high interest rates are other factors, they said.
Job seekers face a stagnant labor market characterized by relatively few opportunities.

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