U.S. Economic Indicators

Initial jobless claims increased 3,000 to 222,000 last week. The four-week moving average rose 2,500 to 217,750. DOL Report

U.S. News

According to the Wall Street Journal, China’s Vice Premier Liu He announced that external economic pressures will ultimately serve China’s long-term interests by spurring China to create stronger domestic capital markets and more innovative industrial supply chains. While avoiding mention of U.S.-China trade tensions specifically, Liu urged economists to ignore China’s monthly indicators, which have deteriorated during the trade war. WSJ

Bloomberg reports that a recent World Economic Forum report found that retirement account balances for older adults aren’t increasing on pace with life expectancies across the globe. The average 65-year-old American has enough savings to cover just 9.7 years of retirement, leaving an average retirement savings gap of 8.3 years for men and 10.9 years for women. Bloomberg