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Tariffs Stifle Job Growth; Supreme Court Ruling Could Revive Market

1/12/2026

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Summary

Story summary

Mark Zandi, Moody's Analytics chief economist, said the U.S. labor market stagnates partly due to tariffs by U.S. President Donald Trump.
In December, only 50,000 jobs were added, with the unemployment rate at 4.4%.
In 2025, job growth was the weakest since the early 2000s, with manufacturing, mining, and warehousing losses.
Zandi says a Supreme Court ruling on tariffs under the International Emergency Economic Powers Act (IEEPA) could revive growth.

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Story summary

Mark Zandi, Moody's Analytics chief economist, said the U.S. labor market stagnates partly due to tariffs by U.S. President Donald Trump.
In December, only 50,000 jobs were added, with the unemployment rate at 4.4%.
In 2025, job growth was the weakest since the early 2000s, with manufacturing, mining, and warehousing losses.
Zandi says a Supreme Court ruling on tariffs under the International Emergency Economic Powers Act (IEEPA) could revive growth.