US business hiring drops to 7-year low as Trump’s trade wars weigh on economy
Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.A measure of hiring by US businesses fell to the lowest level in seven years in the third quarter as trade tensions increasingly weighed on the economic outlook.in a survey released Monday that just one-fifth of companies hired more workers over the past three months.
The decline was at least partly driven by trade disputes between the Trump administration and major economies, the business economists said. Tariffs have dimmed the outlook for an economy that had already been expected to slow this year. Tariffs levied over the past year have raised costs for companies and cast uncertainty on investment plans, the survey said, leading to weaker sales and anemic profit margins. While the US and China delayed planned economic escalations this month, the two sides maintained tariffs on thousands of each other's products.
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