The Labor Department says the US economy added 201,000 jobs in the month of August. The unemployment rate remains unchanged at 3.9%. This in conjunction with yesterday’s unemployment report of 203,000 new claims, the lowest level since 1969, shows just how red-hot the job market is.
The Great Oregon Wine Co. has purchased Duck Pond Cellars. The price wasn’t disclosed. Great Oregon is owned by Integrated Beverage Group. Duck Pond, focused on pinot noir and pinot gris. (PBJ)
U.S. trade deficit in July widened by $4.3 billion, the most since March 2015, to $50.1 billion. The U.S. trade deficit has widened for two straight months after $50 billion in tariffs on Chinese imports were implemented in early July. The widening deficit is further evidence of tariffs' economic drag, which we estimate will weigh on gross domestic product growth this year. (LPL)
Nation’s Restaurant News says 67 percent of restaurant operators “cited increased competition for workers as a key driver in rising costs.”
Join us this weekend for Financial Focus Radio. Tyler and I will discuss this week’s big tech selloff.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.