By Lucia Mutikani
March 5, 2025 – 6:13 AM PST
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WASHINGTON (Reuters) – U.S. private payrolls increased at the slowest pace in seven months in February, blamed on policy uncertainty, likely related to tariffs on imported goods, and slowing consumer spending.
The ADP National Employment Report on Wednesday also showed a moderation in wage growth for workers changing jobs. Wage gains for employees remaining in their jobs were steady. While the report probably exaggerates the labor market slowdown, it aligned with consumers’ deteriorating views of the jobs market.
Tariffs either already implemented or being pursued by President Donald Trump’s administration have caused anxiety among businesses and consumers, leading to a decline in sentiment that has erased all the gains booked following the Republican’s…
