No. 959-A: June 2018 Labor Conditions, May Trade Deficit

(SGS Subscription required) • Private Labor-Market Surveying Showed Continued Retrenchment in June 2018
• June Labor-Market Stress Remained at High Levels, Consistent with Headline Unemployment Much Closer to a Record High than Just Off a Record Low
• June U.3 Unemployment Rate Rose to 4.05% from 3.75% in May, Up by 0.30%; Headline Gain of 0.2% Was a Rounding Artefact of 4.0% versus 3.8%
• June U.6 Unemployment Rose to 7.79% from 7.65% in May
• June ShadowStats-Alternate Unemployment Rose to 21.5% from 21.4% in May
• June Payroll Jobs Gained 213,000 (up by 250,000 Net of Revisions), but with Annual Growth of 1.62% Still in Recession-Signal Territory
• Household Survey Lost 89,000 (-89,000) Full-Time Employed, but Gained 145,000 Part-Time Employed
• May 2018 Nominal Balance-of-Payments Trade Deficit Shrank for Third-Straight Month
• Second-Quarter Real Merchandise Trade Deficit Is on Track for a Sharp Narrowing

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