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 approved a nearly $14.5 billion military aid package Thursday for Israel, a muscular U.S. response to the war with Hamas but also a partisan approach by new Speaker Mike Johnson that poses a direct challenge to Democrats and President Joe Biden.
The U.S. Senate, circumventing holds by Republican Sen. Tommy Tuberville, on Thursday confirmed the nominations of two senior military leaders, including the first female member of the Joint Chiefs of Staff.
Using sidewalks as exam rooms and heavy red duffle bags as medical supply closets, volunteer medics spend their Saturdays caring for the growing number of migrants arriving in Chicago without a place to live.
Israeli troops advanced toward Gaza City on Thursday, as the Palestinian death toll rose above 9,000. With no end in sight after weeks of heavy fighting, U.S. and Arab mediators intensified efforts to ease Israel's siege of the Hamas-ruled enclave and called for at least a brief halt to the hostilities in order to aid civilians.
Rep. George Santos easily survived a vote Wednesday to expel him from the House as most Republicans and 31 Democrats opted to withhold punishment while both his criminal trial and a House Ethics Committee investigation proceed.
