U.S. Adds Jobs in June, But Trade War Could Slow Growth
*By Michael Teich*
Wall Street applauded a better-than-expected June jobs report, sending the Dow Industrials Index nearly 100 points higher Friday.
Despite those numbers, though, the U.S. economy is still grappling with growing trade tensions with China and Europe. The Trump administration's tariffs officially went into effect early Friday morning as the U.S. followed through on its threat to impose taxes on $34 billion of Chinese imports. China promptly responded with a similarly seized tariffs on U.S. goods, including pork, soybeans, and electric vehicles.
If trade wars accelerate, "the downside risks outweigh the upside risks," said Mark Hamrick, Senior Economic Analyst, Bankrate.com.
"The trade disputes are having impacts that are real in the economy right now."
The U.S. added 213,000 jobs in June, topping the forecast of 195,000. It was the 93rd consecutive month of job growth. The unemployment rate, however, rose to 4 percent as more people returned to the job market searching for work.
For the full segment, [click here.](https://cheddar.com/videos/u-s-job-growth-beats-expectations)
The House Education and Workforce Committee opened an investigation into MIT, the University of Pennsylvania and Harvard University after an anti-Semitism hearing on Tuesday.
The son of North Dakota Sen. Kevin Cramer was charged with manslaughter and fleeing an officer after a police pursuit ended in a crash that killed the sheriff's deputy.
Hunter Biden has been indicted on nine tax charges in California as a special counsel investigation into the business dealings of President Joe Biden’s son intensifies against the backdrop of the looming 2024 election.
The police department in the remote north woods Minnesota town of Ely faces the same challenges of recruiting and keeping new officers as countless other law enforcement agencies across the country. So it's offering a unique incentive: canoes.
