Journal Article

Higher Tariffs Might Have Created Headwinds to Employment Growth in 2025


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.

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Bibliographic Information

Provider: Federal Reserve Bank of Kansas City

Part of Series: Economic Bulletin

Publication Date: 2025-12-12

Pages: 4