U.S. Economic News
July 10, 2018
U.S. Economic Indicators
The NFIB Small Business Optimism Index edged down 0.6 point to 107.2 in June, but remains in the top 2 percent of all readings, as five of the components rose and five fell. The share of small business owners who indicated that now is a good time to expand fell 5 points. NFIB Report
U.S. News
The Job Openings and Labor Turnover Survey (“JOLTS”), a closely-watched measure of labor market health, indicated there were 6.7 million job openings at the end of April, an all-time high. Hires rose to 5.6 million while the quits rate was unchanged at 2.3%. BLS Report
According to the Wall Street Journal, economists at the Federal Reserve Bank of San Francisco claim that recent tax cuts may stimulate the economy less than previously anticipated. The Tax Cuts and Jobs Act was passed when the economy was already running hot, and research suggests that fiscal stimulus can provide a better boost to economic activity when there is more slack in the economy. WSJ