— Net hiring has plummeted over the past three months with job gains of just 73,000 in July, 14,000 in June and 19,000 in May — a combined 258,000 jobs lower than previously indicated. On average last year, the economy added 168,000 jobs a month.

Higher US tariffs came into effect for dozens of economies Thursday, drastically raising the stakes in President Donald Trump's wide-ranging efforts to reshape global trade.

Trump's new tariffs go into effect around the world just as the US economy starts to feel a sting from his policies.