- Initial unemployment claims increased 2,000 to 206,000 last week and remained near the low end of the year's range.
- The data point to a slow-hire, slow-fire labor market, with economists expecting August payrolls to rebound by 56,000 after July's 23,000 decline.
- An ISM services survey showed prices paid for business inputs rose to a three-year high in August, adding to the Federal Reserve's inflation challenge.
- The US trade deficit widened 24.4% to $88.6 billion in July as capital goods imports reached a record high.
Quotes
“slow-hire, slow-fire”