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The company cited tariffs and consumer uncertainty as major factors in its plan to lay off as much as 6 percent of its workforce in the next two years.
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If the labor market really does begin to suffer ill effects from the trade war, a rising unemployment rate would make it quite clear.
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Economists expect that when the Bureau ofLabor Statistics reports the May nonfarm payrolls numbers, they will show a gain of just 125,000.
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Privately run businesses created just 37,000 new jobs in May — the smallest increase in more than two years — as the worst global trade wars since the 1930s spurred many firms to put a pause on hiring.
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