Trump's tariffs beat up economy as private sector loses jobs in June
President Donald Trump's destructive trade policy appears to finally be having the devastating impact on the job market that economists predicted, as ADP reported on Wednesday that private employers shed 33,000 jobs in June amid uncertainty created by Trump’s nonsensical tariffs.
"Though layoffs continue to be rare, a hesitancy to hire and a reluctance to replace departing workers led to job losses last month," ADP Chief Economist Nela Richardson said in a news release.
The ADP jobs report was massively different from the 100,000 jobs economists predicted would be added to the private sector. It came the same day the tech giant Microsoft announced that it is cutting another 9,000 jobs—bringing the company’s total job cuts this year to more than 15,000.
Economists are directly attributing June’s private sector job losses to Trump’s tariffs, which are raising the cost of doing business.
https://www.dailykos.com/stories/2025/7/2/2331299/-Trump-s-tariffs-beat-up-economy-as-private-sector-loses-jobs-in-June
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