Higher Tariffs Might Have Created Headwinds to Employment Growth in 2025

Mariia Dzholos and Johannes Matschke

Economic Bulletin, 2025, 4

Abstract: Job growth in the United States has slowed considerably this year. We examine the effect of tariffs on job growth and argue that sectors with higher exposure to imports had greater reductions in hiring. Tariffs therefore could have reduced job growth, though there is considerable uncertainty about the effect.

Keywords: job growth; tariffs; employment growth (search for similar items in EconPapers)
Date: 2025
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