Charting the Global Economy: US Job Market Wavers in Cue for Fed

The US labor market is wavering after a slowdown in economic growth during the first half of the year — implications of heightened uncertainty tied to trade policy.

President Donald Trump unveiled a slew of new tariffs that boosted the average US rate on goods from across the world, forging ahead with his effort to reshape international commerce and bolster American manufacturing. The baseline rates for many trading partners remain unchanged at 10% from the duties Trump imposed in April.

Signs of a sluggish job market and the risk of a reacceleration in inflation due to higher import duties are ...