U.S. Economic News
June 4, 2020
U.S. Economic Indicators
The U.S. trade deficit increased from $42.3 billion (revised) in March to $49.4 billion in April. The goods deficit rose by $5.8 billion while the services surplus fell by $1.3 billion. Census Bureau Report
Nonfarm business sector labor productivity decreased 0.9% in 2020 Q1 (revised) but rose 0.7% compared to the previous year. Hours worked decreased 5.6% and unit labor costs rose 5.1%. BLS Report
Initial jobless claims fell 249,000 to 1,877,000 last week. The four-week moving average decreased 324,750 to 2,284,000. DOL Report
U.S. News
The Washington Post reports that almost half of commercial rents went unpaid in May, increasing financial pressure on landlords, property managers, and cash-strapped local governments. Small business are particularly vulnerable to the rent crisis, though recent changes to the Paycheck Protection Program could alleviate strain by increasing the percentage of funds that can be used towards rent. WaPo