U.S. Economic News
July 5, 2019
U.S. Economic Indicators
The U.S. economy added 224,000 jobs in June, well above consensus. The unemployment rate edged up to 3.7%, the labor force participation rate was little changed at 62.9%, and average hourly earnings annual growth remained at 3.1%. BLS Report
U.S. News
According to the Washington Post, the benefits of the current economic expansion are distributed far more unevenly than in previous growth cycles, with about 40% of Americans experiencing little or volatile wage growth despite rising costs for housing, health care, and education. Many families have yet to fully recover from the 2008 financial crisis and have a diminished ability to handle surprise expenses or a future economic downturn. WaPo
The Financial Times reports that a key measure of German manufacturing activity declined more than expected in May, adding to concerns about the health of the global economy and raising expectations that the European Central Bank will implement recession-era stimulus policies. Germany’s export-driven economy has been hard-hit by the U.S.-China trade conflict, with economists now predicting negative growth in Q2 with little hope of recovery in Q3. FT