Employers add 139K jobs in May, though hiring slows as potential weaknesses appear

U.S. employers slowed hiring last month, but still added a solid 139,000 jobs amid uncertainty over President Donald Trump’s trade wars. Hiring fell from a revised 147,000 in April, the Department of Labor said Friday. The job gains last month were above the 130,000 that economists had forecast.

Healthcare companies added 62,000 jobs and bars and restaurants 30,000. The federal government shed 22,000 jobs, however, the most since November 2020, as Trump’s job cuts and hiring freeze had an impact. And factories lost 8,000 jobs last month.

Average hourly wages rose 0.4% from April and 3.9% from a year earlier — a bit higher than forecast.

There were a few signs of potential weakening. Labor Department revisions shaved 95,000 jobs from March and April payrolls. The number of people in the U.S. labor force — those working or looking for work — fell by 625,000 last month, biggest drop since December 2023. And the percentage of those who had jobs fell last month to 59.7%, lowest since January 2022.

Billion-dollar battery plant pauses construction amid EV, tariff uncertainty

A Japanese company has halted construction on a $1.6 billion factory in South Carolina to help make batteries for electric BMWs, citing “policy and market uncertainty.” While Automotive Energy Supply Corp. didn’t specify what those problems are, South Carolina’s Republican governor said the company is dealing with the potential loss of federal tax breaks for electric vehicle buyers and incentives for EV businesses as well as tariff uncertainties from President Donald Trump’s administration.

“What we’re doing is urging caution — let things play out because all of the these changes are taking place,” Gov. Henry McMaster said.

AESC announced the suspension in construction of its plant in Florence on Thursday, “Due to policy and market uncertainty, we are pausing construction at our South Carolina facility at this time,” the company’s statement said.

Michaels completes acquisition of Joann’s intellectual property and fan-favorite labels

Craft labels from the now-shuttered fabrics seller Joann are making their way to a new home: Michaels.

The Michaels Companies announced on Thursday that it had completed its purchase of Joann’s intellectual property and private label brands — in an acquisition that arrives as the Texas-based arts and crafting chain works to expand its own fabric, sewing and yarn offerings.

“We’re honored to have the opportunity to welcome JOANN customers into our creative community and are committed to delivering the selection, value, and inspiration they are looking for at Michaels,” Michaels CEO David Boone said in a statement. The deal, he added, allows the company to better “respond to rising demand” among both new and existing customers.

— Compiled via The Associated Press