US Economy Adds 160,000 Jobs Following Trade Policy Concerns

The Boston Globe shows the American labor market added 160,000 jobs in February according to predictions with a total of 143,000 new workers in January. The US economy maintains its upward track despite rising worries that Trump’s government actions will hurt hiring practices, reduce civil servants, and restrict immigration.

The next Department of Labor report will present unemployment figures that match the 4% mark. The data from the February employment figures won’t show the effect of Elon Musk’s Department of Government Efficiency layoffs since the survey period occurred before these reductions. After last month’s shutdown caused by the LA wildfires business activity in leisure and hospitality should improve but staffing remains difficult due to the immigration ban for 1 million people from Venezuela and Haiti.

After recording 603,000 new workers in 2021 the market held up well despite rising interest rates while producing 166,000 hires in 2023. After reaching its high point at 9.1% in June 2022 inflation declined to 2.4% in September which allowed the Federal Reserve to decrease interest rates three times during 2024. The Federal Reserve holds its rate cuts because inflation levels have slowed down. Experts are hesitant about the economy because Trump keeps using import tariffs to control trade.

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