Hiring slows, most of all in industries hit by tariffs
On more than one occasion, President Donald Trump has said that tariffs on Chinese goods will create jobs in the United States. In a tweet back in July, he said: “Tariffs are a great negotiating tool, a great revenue producer and, most importantly, a powerful way to get companies to come to the USA and to get companies that have left us for other lands to COME BACK HOME.” But there are signs the opposite is happening.
Nationwide, hiring has been slipping, and some observers think it’s partly because businesses are pulling back as a result of tariffs and the uncertainty surrounding the trade war. Other factors include the slowing German and Chinese economies. But the hiring slowdown doesn’t appear to be pulling the country into recession and the service sector of the economy is still hiring at a healthy, though slightly slower, pace.
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