U.S. Economic Indicators

The Job Openings and Labor Turnover Survey (“JOLTS”) indicated there were 7.4 million job openings at the end of April, essentially unchanged from March.  Hires edged up to 5.9 million, while the quits rate remained at 2.3 percent. BLS Report

U.S. News

According to the Financial Times, Vietnam has vowed to crack down on companies that have been relabeling Chinese goods as made in Vietnam to avoid U.S. tariffs. Vietnam has benefited substantially from U.S. companies shifting purchasing and manufacturing away from China, with exports of Vietnamese goods to the U.S rising 40% in Q1 of 2019. FT

The Wall Street Journal reports that the American South has begun to diverge economically from the rest of the U.S., reversing decades of improvement driven by low taxes and low wages that once attracted thousands of blue-collar jobs. The rural South is struggling to compete for businesses and workers amid increased globalization in manufacturing and years of underinvestment in human capital development. WSJ