US President Donald Trump's trade policies are creating significant uncertainty, as layoffs and tariffs contribute to economic instability. Despite these challenges, the US labor market added 151,000 jobs in February, indicating some growth. However, the unemployment rate rose slightly to 4.1%. Economists warn that the long-term effects of the tariffs remain uncertain, and the recent layoffs by federal departments could negatively impact the private sector. The overall economic landscape is described as rocky, with low-wage sectors seeing most job gains.
The economy is off to a slow start under the new president," chief economist Christopher Rupkey told Reuters news agency. "You can't have mass firings of federal workers and government contractors and think it is not going to mean job losses for the private sector. Tariffs are a price hike and a brake on economic growth which includes hiring.
Despite this economic turbulence, the US labor market showed growth in February, adding 151,000 jobs, up from a revised 125,000 in January.
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