U.S. Economic News
March 7, 2018
U.S. Economic Indicators
The ADP Employment Report shows that private-sector employment increased by 235,000 jobs in February, above expectations of 205,000. The services sector added 198,000 jobs and the goods-producing sector added 37,000 jobs. ADP Report
The U.S. trade deficit increased from $53.9 billion in December (revised) to $56.6 billion in January. The goods deficit rose $2.8 billion while the services surplus edged up $0.1 billion. Census Bureau Report
Nonfarm business sector labor productivity was unchanged in Q4 (revised) after rising 2.6% (revised) in Q3. Hours worked increased 3.3% in Q4 and unit labor costs rose 2.5%. BLS Report
U.S. News
The Wall Street Journal reports that President Trump’s top economic adviser Gary Cohn will soon resign. Cohn remains opposed to President Trump’s proposed tariffs on steel and aluminum, which many fear will cause a global trade war. WSJ