U.S. Economic News
October 17, 2018
U.S. Economic Indicators
Privately-owned housing starts fell 5.3% in September to a seasonally adjusted annual rate of 1.20 million (up 3.7% year-over-year). Housing permits declined 0.6% to a 1.24 million annual pace in September and are down 1.0% on the year. Census Bureau Report
U.S. News
The Financial Times reports that the Trump administration has told Congress that it intends to begin formal trade negotiations with the UK as soon as their government is ready. The administration also informed Congress that it will soon begin trade negotiations with Japan and the EU. FT
Heather Long of the Washington Post writes that now that the U.S. has more than one job opening for every unemployed person, workers may feel more empowered to ask for a raise. Long points out that although the labor market is historically tight, wages are still growing more slowly than expected, partly due to the fact that companies are opting for one-time bonuses or other perks like working from home. WaPo