U.S. Economic Indicators

The U.S. economy added 75,000 jobs in May, well below consensus. The unemployment rate remained at 3.6%, the labor force participation rate held steady at 62.8%, and average hourly earnings annual growth edged down to 3.1%. BLS Report

U.S. News

The Wall Street Journal reports that although the U.S. and Mexico have made significant progress in border security negotiations over the past several days, the U.S. is still on track to impose tariffs on Mexican goods next week. The Mexican government is planning to deploy 6,000 troops to stem the flow of migrants entering the country from Guatemala, but the U.S. insists that Mexico take further action to help enforce U.S. asylum policies. WSJ

According to the Wall Street Journal, a recent Fed report found that American households’ net worth rose 4.5% in the first quarter of 2019, more than making up for losses from last year’s stock market turbulence. The report also indicated a slowdown in household debt accumulation that could reflect a slowdown in spending, a worrying sign for the consumer-driven U.S. economy. WSJ