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US labour market looks strong, while Trump’s tariffs threaten global growth

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The US added 143 000 jobs in January, fewer than expected, but the unemployment rate fell to 4% from 4.1%, showing the labour market is still extremely strong. However, wage growth accelerated by 4.1% y/y. This is relatively high, and may persuade the US Federal Reserve to keep interest rates on hold for the foreseeable future as it gauges the effect of new import tariffs.
US President Donald Trump’s tariff hikes create wider concerns, given the high correlation between global trade and global growth. His executive order on SA has created tensions between the two countries, heightens negative foreign investment sentiment and raises uncertainty about the continuation of AGOA benefits.
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10 Feb 2025 English South Africa Investing · Business News
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