Thousands of workers saw their jobs eliminated at Amazon, UPS, Nestlé, and other large companies, in an economy defined this year by uncertainty, AI, and global tensions.

However, since March, job creation has fallen to an average 35,000 a month, compared to 71,000 in the year ended in March.

On Tuesday afternoon, a line streamed out the door of the Annapolis Mall’s Santopolis, a heavily decorated holiday storefront ...