The number of Americans filing new applications for unemployment benefits increased more than expected last week, while hiring by private employers slowed in August, offering further evidence that labor market conditions were softening.

The reports were released a day after government data showed there were more unemployed people than positions available in July for the first time since the COVID-19 pandemic. Job growth has shifted into stall-speed, with economists blaming President Donald Trump’s sweeping import tariffs and an immigration crackdown that is hampering hiring at construction sites and restaurants.

The slackening labor market likely positions the Federal Reserve to resume cutting interest rates later this month, though much would depend on August’s employment report to be p

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