U.S. Economic News

July 2, 2020

U.S. Economic Indicators

Initial jobless claims fell 55,000 to 1,427,000 last week. The four week moving average fell 117,500 to 1,503,750. DOL Report

The U.S. economy added 4.8 million jobs in June, above expectations. The unemployment rate fell to 11.1% and labor force participation increased from 60.8% to 61.5%. BLS Report

The U.S. trade deficit increased from $49.8 billion (revised) in April to $54.6 in May. The goods deficit rose by $4.2 billion while the services surplus fell by $0.6 billion. Census Bureau Report

New factory orders for manufactured goods increased 8.0% in May following a 13.5% decrease in April. New orders excluding transportation increased 2.6%, while new orders for nondefense capital goods excluding aircraft rose 1.6%. Census Bureau Report