WASHINGTON (AP) — The Labor Department reported last week that U.S. employers added just 73,000 jobs last month, well short of the 115,000 forecasters had expected.

Worse, revisions shaved a stunning 258,000 jobs off May and June payrolls. The unemployment rate ticked up to 4.2 percent as Americans dropped out of the labor force and the ranks of the unemployed rose by 221,000.

“A notable deterioration in U.S. labor market conditions appears to be underway,’’ said Scott Anderson, chief U.S. economist at BMO Capital Markets. “We have been forecasting this since the tariff and trade war erupted this spring and more restrictive immigration restrictions were put in place. Overall, this report highlights the risk of a harder landing for the labor market.’’

Economists have been warning that the rift with every U.S. trading partner will begin to appear this summer and the jobs report appeared to sound the bell.

“We’re finally in the eye of the hurricane,” said Daniel Zhao, chief economist at Glassdoor. “After months of warning signs, the July jobs report confirms that the slowdown isn’t just approaching, it’s here.”

The revelations in the new data raise questions about the health of the job market and the economy as President Donald Trump pushes forward with an overhaul of American trade policy.

Mainstream economists say the cost of the tariffs will be passed along to Americans, both businesses and households. That has already begun to happen, with major U.S. companies from Walmart to toothpaste, detergent and toilet paper maker Procter & Gamble announcing price hikes.

Trump also has sowed uncertainty in the way he’s rolled the tariffs out — announcing, then suspending them, then coming up with new ones. Last week, Trump signed an executive order that set new tariffs on a wide swath of U.S. trading partners to that go into effect on Thursday.

“There was a clear, significant, immediate, tariff effect on the labor market and employment growth essentially stalled, as we were dealing with so much uncertainty about the outlook for the economy and for tariffs,” said Blerina Uruci, chief U.S. economist for the brokerage T. Rowe Price.

Still, Uruci said the data suggests we could be past the worst, as hiring actually did pick up a bit in July from May and June’s depressed levels.

“I’m not overly pessimistic on the U.S. economy based on this morning’s data,” she said, though she does think that hiring will remain muted in the coming months as the number of available workers remains limited due to reduced immigration and an aging population.

Trump has sold the tariffs hikes as a way to boost American manufacturing, but manufacturers cut 11,000 jobs last month after shedding 15,000 in June and 11,000 in May. The federal government, where employment has been targeted by the Trump administration, lost 12,000 jobs. Jobs in administration and support fell by nearly 20,000.

Health-care companies added 55,400 jobs last month, accounting for 76 percent of the jobs added in July and offering another sign that recent job gains have been narrowly concentrated.

The department originally reported that state and local governments had added 64,000 jobs in education in June. After the revisions released last week, that number fell to below 10,000.

The weak jobs data makes it more likely that Trump will get one thing that he most fervently desires: a cut in short-term interest rates by the Federal Reserve, which often — though not always — can lead to lower rates for mortgages, car loans, and credit cards.

Fed Chair Jerome Powell and other Fed officials have repeatedly pointed to a healthy job market as a reason that they could take time to evaluate how Trump’s tariffs were affecting inflation and the broader economy. Now that assessment has been undercut and will put more pressure on the Fed to reduce borrowing costs.

Wall Street investors sharply raised their expectations for a rate cut at the Fed’s next meeting in September after the report was released.

Last week, the Fed left its key rate unchanged for the fifth straight meeting and Powell signaled little urgency to reduce rates anytime soon. He said the “labor market is solid” with “historically low unemployment.” He also acknowledged there is a “downside risk” to employment stemming from the slow pace of hiring that was evident even before Friday’s weaker numbers.