The meeting between President Donald Trump and China’s Xi Jinping at the G-20 might have been enough to pause the trade war, but it seems that finding a lasting peace is no easier than it was before the summit. China’s pre-condition is a removal of all tariffs placed on its goods, with state media saying talks will “go backward again” without the U.S. agreeing to that step. Trade spats are starting to spread beyond the U.S.-China faceoff, with the long-standing grudge match between Japan and South Korea among those that are beginning to re-emerge. (Bloomberg)
Payroll growth rebounded sharply in June as the U.S. economy added 224,000 jobs amid concerns that both the employment picture and overall growth picture were beginning to weaken. The unemployment rate edged up to 3.7%. Economists surveyed by Dow Jones had expected nonfarm payrolls to rise by 165,000 after and the unemployment rate to hold steady at 3.6%. May’s initially reported growth of 75,000 had raised doubts about the durability of the record-setting expansion that began a decade ago. (CNBC)
Workers in the Bend-Redmond Metropolitan Statistical Area had an average hourly wage of $23.27 in May 2018, about 7 percent below the nationwide average of $24.98, according to U.S. Bureau of Labor Statistics. When compared to the nationwide distribution, local employment was more highly concentrated in 8 of the 22 occupational groups, including food preparation and serving related; construction and extraction; and building and grounds cleaning and maintenance.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Josh Fenili.