Normally yes. However, it's worth noting that the last major economic legislation passed by the prior administration took effect over 3 years ago. Further, ther

Normally yes. However, it's worth noting that the last major economic legislation passed by the prior administration took effect over 3 years ago. Further, there is not a reading of that law that would predict a negative overall effect on hiring. However, tariffs have been extensively studied in a number of countries around the world. What we are observing in the labor market is more or less what economists would predict given the magnitude of the tax increase and the uncertainty around its application. Further, data[1] shows a rapid deterioration in the labor market corresponding to the initial tariff announcement. 1 - https://fred.stlouisfed.org/series/PAYEMS https://fred.stlouisfed.org/series/PAYEMS