Real-time update: Trump fires BLS commissioner on work report

The stock market plunged after weak job reports and massive downward revisions to employment figures in May and June, triggering alarms about the direction of the U.S. economy.

The U.S. added only 73,000 jobs in July, with the unemployment rate remaining flat at 4.2%, according to data released by the Labor Department on Friday. That’s much lower than economists expect to earn at least 100,000 jobs in July.

The Labor Department said job growth in May and June was also much lower than the first reported jobs, which cut 258,000 jobs in the past two reports.

The bad job news comes after Trump announced Thursday night that dozens of countries that have not yet agreed to deal with the U.S. are higher tariffs in dozens of countries that have not yet agreed to trade with the U.S., hours before he suspended the “reciprocal” tariffs. These new rates will take effect on August 7.

In another executive order, Trump set Canada’s tariff rate at 35%, 10 points higher than his previously announced, which he said reflects the country’s inability to control its borders.

The Jobs report provides Democrats with a new line of attack to use against Trump before next year’s midterm elections.

Trump will travel to his Bedminster, New Jersey, on Friday, and he will reportedly host a fundraiser for the super PAC Maga Inc., who supports him.

Catch up here:

• Trump trains his fire on Republican allies and fears Republicans
• Student loan borrowers lament the system as interest restarts to save
• Trump sets new tariff rates to change schedules amid the latest trade twist

And follow the update below.

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