## The Job Market Slowdown: Is the Hurricane Here?
The U.S. job market is showing signs of a significant slowdown, according to recent data. Here’s a breakdown of what the numbers reveal:
- **Weak Job Growth:** The Bureau of Labor Statistics (BLS) reported that employers added only 73,000 jobs in July, significantly less than expected.
- **Downward Revisions:** The job growth figures for May and June were sharply revised downward, indicating a weaker job market than initially thought.
- **Below Population Growth:** Economists estimate the economy needs to add 80,000 to 100,000 jobs monthly to keep up with population growth, suggesting the market is contracting.
- **Concentrated Growth:** New job creation is largely concentrated in healthcare and social assistance, not a broad-based recovery.
- **Tariff Impact:** New tariffs announced by President Trump are expected to raise prices and create uncertainty, potentially leading to reduced hiring.
- **Other Headwinds:** Immigration policies, cuts to the federal workforce, government spending, and higher interest rates are also contributing to the slowdown.
- **Concerning Signs:** The labor force participation rate has fallen, and the unemployment rate has risen. The share of long-term unemployed has also increased.
- **Stagnation:** While layoffs remain low, the combination of low hiring and quitting creates a stagnant job market.
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Source: https://www.cnbc.com/2025/08/01/us-job-market-jobs-report-july-2025.html