Are Trump's tariffs finally starting to rock the job market?

Private-sector companies added just 37,000 jobs in May, the payroll company ADP announced on Wednesday, coming in far lower than economists' expectations and painting a worrying picture for where the economy is headed.

Economists expected that the monthly ADP jobs report would show private payrolls rising by 110,000 jobs. Instead, the number was roughly a third of that, which marked the lowest monthly jobs number ADP collected since March 2023.

In fact, ADP's report showed that...