Hiring in the US drops to pandemic lows as job market under Trump stagnates

U.S. hiring has collapsed to pandemic-era levels, with private payroll growth averaging just 18,000 jobs monthly in recent months. The sharp deceleration marks a dramatic slowdown in the labor market under the Trump administration, contrasting sharply with the robust job creation of previous years. This stagnation signals cooling economic momentum and raises concerns about consumer spending power and broader growth prospects. The private sector weakness suggests businesses are pulling back on expansion plans, possibly due to economic uncertainty or shifting business conditions. Labor market deterioration of this magnitude typically precedes broader economic weakness and could affect household incomes and unemployment rates in coming months.