U.S. Economic News
March 9, 2018
U.S. Economic Indicators
The U.S. economy added 313,000 jobs in February, above consensus. The unemployment rate held steady at 4.1%, the labor force participation rate jumped to 63.0%, and average hourly earnings decelerated to 2.6% Y/Y. BLS Report
The U.S. Census Bureau reports that wholesale merchant inventories rose 0.8% in January to $619.1 billion. Inventories were up 4.8% year-over-year. Census Report
U.S. News
The Wall Street Journal reports that President Trump yesterday signed sweeping tariffs on steel and aluminum imports but exempted Canada and Mexico from the duties. The tariffs will take effect in two weeks, though many Congressional Republicans have voiced their opposition to the tariffs and have expressed fears of retaliation from trading partners, especially those in Europe. WSJ