US jobs market slows down as businesses cope with Trump trade war uncertainty
The US economy added 139,000 jobs in May, a slowdown compared with recent months as American businesses cope with uncertainty around Donald Trump’s continuing trade war.After signs of a strong labor market in April – which was largely seen as resiliency against teetering trade policy from the White House – May saw a drop in new jobs added to the labor market, according to new data from the Bureau of Labor Statistics.The unemployment rate remained steady at 4.2%, unchanged from last month.May’s jobs report was dragged down by the loss of 22,000 federal workers’ jobs as the Trump administration used the so-called “department of government efficiency” (Doge) to cut government positions.
Since January, 59,000 Federal jobs have been cut.The Bureau of Labor Statistics also cut the numbers of jobs created in March and April.In an update, the bureau said a total of 95,000 fewer jobs had been created over the two months.After the report was released, Trump once again called on the Federal Reserve chair, Jerome Powell (whom he has nicknamed “Too Late”), to cut interest rates.“‘Too Late’ at the Fed is a disaster! Europe has had 10 rate cuts, we have had none.
Despite him, our Country is doing great.Go for a full point, Rocket Fuel!” the president wrote on Truth Social.Economists expected a downward slump after data earlier in the week suggested a cooling job market.Payroll firm ADP reported that private-sector payrolls increased by just 37,000 in May, the lowest gain in more than two years.“After a strong start to the year, hiring is losing momentum,” said Nela Richardson, chief economist at ADP, in a statement.
The Institute for Supply Management also released its latest purchasing mangers’ index figure, which measures the general landscape for manufacturers and showed a reading of 49.9 in April – the lowest since June 2024.In the most recent results of the University of Michigan’s survey of consumers, released at the end of May, consumer sentiment had stayed relatively stable from April to May, with the caveat that April’s reading was the lowest drop in consumer sentiment since 1990.The impact of Trump’s trade war has yet to be seen in inflation readings.In April, the annual inflation rate was at 2.
3%, a slight decrease from March, though economists said that the impact of Trump’s tariffs will be gradual and probably will not impact data until the summer,
Pensions report cuts Reeves’ planned growth funds from £160bn to £11bn
Plans to invest £160bn of surplus funds from final salary pension schemes to boost the UK economy over the next 10 years have been dealt a blow by a Whitehall assessment that found there was likely to be little more than £11bn available to spend.In a knock to Rachel Reeves’s growth agenda, a report by civil servants at the Department for Work and Pensions (DWP) found that the expected surpluses in occupational schemes would be used by businesses to offload their pension liabilities to insurance companies.It could mean that as little as £8.4bn would be available for companies to invest in new equipment or technology, but the figure was likely to be nearer £11bn, the DWP said on Friday.“It is estimated that an additional £11
Trump bill set to add trillions to US debt pile – can America stop it climbing?
Economists are concerned, politicians are angry – but the national debt keeps growing, no matter who’s in chargeIn this febrile political era, few issues command stronger bipartisan support than the need for fiscal responsibility. Barack Obama and Donald Trump committed to curtail the US national debt on their respective roads to the White House.And yet, no matter the party, Americans have been able to count on one thing above most: the national debt will keep climbing.And here we are again. With Trump’s “big, beautiful bill” threatening to add once more to the US’s huge debts, several Republican senators are threatening to block his current spending plans, with Rand Paul of Kentucky among those highly critical
High court tells UK lawyers to stop misuse of AI after fake case-law citations
The high court has told senior lawyers to take urgent action to prevent the misuse of artificial intelligence after dozens of fake case-law citations were put before the courts that were either completely fictitious or contained made-up passages.Lawyers are increasingly using AI systems to help them build legal arguments, but two cases this year were blighted by made-up case-law citations that were either definitely or suspected to have been generated by AI.In a £89m damages case against the Qatar National Bank, the claimants made 45 case-law citations, 18 of which turned out to be fictitious, with quotes in many of the others also bogus. The claimant admitted using publicly available AI tools and his solicitor accepted he cited the sham authorities.When Haringey Law Centre challenged the London borough of Haringey over its alleged failure to provide its client with temporary accommodation, its lawyer cited phantom case law five times
Shopper put on facial ID watchlist after dispute over 39p of paracetamol at Home Bargains
A London woman has made a data complaint after discovering she had been put on a facial recognition camera watchlist at a Home Bargains store after a dispute over 39p worth of paracetamol.She learned of her entry on a database of banned customers when a member of staff at the store in Grove Farm retail park in Chadwell Heath asked her to leave and directed her attention to a Facewatch sign.Facewatch is a facial recognition system used by retailers to identify and deter shoplifters by analysing CCTV footage and comparing faces against a private database of known offenders. It triggers an alert to staff when a match is made by the software.Stores including Asda, Budgens, Sports Direct and Costcutter have used the technology, despite privacy campaigners arguing that the surveillance infringes the rights of shoppers
Leicester 21-16 Sale: Premiership rugby union semi-final – as it happened
Here’s Michael Aylwin’s verdict from Welford Road. Thanks for joining me. All eyes on Twickenham next Saturday, for Bath v Leicester in the final. Until then …As for Dan Cole, who is retiring after the final, he says: “This club means everything to me, really. I used to sit up in the stands as a boy, joined when I was 15, I’ve played with so many fantastic guys
Lambourn wins the 2025 Derby in dominant fashion: horse racing – as it happened
That’s your lot for today, a long one and one that has ended, predictably with an Aidan O’Brien winner in the Derby although maybe not with the horse many were expecting at the start of the week. The soggy ground helped Lambourn who was much the best horse on the day in the end – and was well backed after Epsom got more rain overnight going into the big day. Here is Greg Wood’s report on the big race. See you for Royal Ascot in a fortnight’s time.1 Sondad (Joanna Mason) 12-1 2 Twilight Jet (Joe Leavy) 33-1 3 Badri (Hollie Doyle) 14-1 11 ran Non Runners: 1,45
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