Quoted By:
https://www.ft.com/content/f98caaf8-545b-41cb-abdf-d9ea674799fc
Donald Trump’s pledge that he would deliver a booming economy to Americans is being undermined by a stalling labour market, in a warning sign for his party’s prospects at next year’s congressional elections.
Until recently, the US president could argue that his disruptive policy moves — from sweeping import tariffs to an aggressive immigration crackdown — had defied critics with resilient job creation and relatively stable inflation.
But Friday’s figures from the Bureau of Labor Statistics showed jobs growth has been grinding to a halt — US employers created just 22,000 positions in August after a weak summer — puncturing confidence that Trump’s economy will remain unscathed.
Omair Sharif, an analyst at Inflation Insights, said: “Trade policy uncertainty — and policy uncertainty in general — is causing a pullback in hiring, and it is not clear that it will be resolved anytime soon.”
Friday’s data has provided Democrats with fresh ammunition for their claims that Trump’s economic policies were doing more harm than good.
Maggie Hassan, the New Hampshire senator and top Democrat on the joint economic committee, told the Financial Times: “Costs keep going up. Manufacturing here in the US is contracting. Businesses don’t know whether to invest or hire because there’s so much uncertainty in the economy.”
“This is a direct result of the president’s reckless tariffs and the uncertainty that he has created.”
Donald Trump’s pledge that he would deliver a booming economy to Americans is being undermined by a stalling labour market, in a warning sign for his party’s prospects at next year’s congressional elections.
Until recently, the US president could argue that his disruptive policy moves — from sweeping import tariffs to an aggressive immigration crackdown — had defied critics with resilient job creation and relatively stable inflation.
But Friday’s figures from the Bureau of Labor Statistics showed jobs growth has been grinding to a halt — US employers created just 22,000 positions in August after a weak summer — puncturing confidence that Trump’s economy will remain unscathed.
Omair Sharif, an analyst at Inflation Insights, said: “Trade policy uncertainty — and policy uncertainty in general — is causing a pullback in hiring, and it is not clear that it will be resolved anytime soon.”
Friday’s data has provided Democrats with fresh ammunition for their claims that Trump’s economic policies were doing more harm than good.
Maggie Hassan, the New Hampshire senator and top Democrat on the joint economic committee, told the Financial Times: “Costs keep going up. Manufacturing here in the US is contracting. Businesses don’t know whether to invest or hire because there’s so much uncertainty in the economy.”
“This is a direct result of the president’s reckless tariffs and the uncertainty that he has created.”
