Hiring cooled in May, the Labor Department reported Friday, as firms appeared more hesitant to bring on new employees amid the uncertainty and concern over President Trump escalating the trade war with China.

The U.S. economy added 75,000 jobs in May, a significant pullback from 224,000 jobs added in April that is likely to heighten fears that the trade war is taking a greater toll. The unemployment rate remained at a five decade low of 3.6 percent.

Manufacturing and construction saw anemic job growth in May with less than 5,000 jobs added in each sector, one of the clearest signs that Trump’s tariffs are having a negative impact on blue-collar sectors the president has been trying to boost. Read More