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US Job Market Shows Signs of Strain as Tariffs Bite, Unemployment Claims Rise
US Job Market Shows Signs of Strain as Tariffs Bite, Unemployment Claims Rise
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BTCCSquare news:
Continuing unemployment claims surged to 1.97 million in early August, marking the highest level since November 2021. The labor market's slowdown reflects a broader economic hesitation as employers freeze hiring plans amid tariff-induced uncertainty.
Corporate executives cite Trump-era import taxes as a primary constraint, forcing tough decisions between absorbing costs or trimming workforces. "It's very tough to find a job right now regardless of age or experience," notes Navy Federal Credit Union's chief economist, highlighting how protectionist policies are reverberating through Main Street.
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