LAST WEEK

News & Commentary Weekly Highlights:

• Wall Street Journal: Economists React to May Jobs Report: ‘An Unqualified Dud’ (Friday)
• Market Watch: Here’s Why Some of the Richest States Are Also the Least Solvent (Friday)
• Bloomberg: More Americans Plan to Retire After 70 (Thursday)
• National Review: Why Americans Don’t Trust Government (Wednesday)
• Economics 21: Federal Debt Is Getting Worse (Monday)

 

Top Economic Indicator Highlights:

International Trade Balance (April)

• Trade Deficit: $37.4 billion, M/M change: +5.4%, Y/Y change: -4.8%
• Imports:  $220.2 billion, M/M change: +2.1%, Y/Y change: -5.1%
• Exports: $182.8 billion, M/M change: +1.5%, Y/Y change: -5.1%
• Noteworthy: The U.S. international trade deficit in goods and services widened $1.9 billion compared to March. Revisions to March data revealed that the deficit was smaller than expected in the prior month, revised down from $40.4 billion to $35.5 billion. In April data, exports showed broad strength and particularly in industrial supplies and autos, as well as consumer goods and capital goods.

 

JEC Releases:

• Coats Statement on May Jobs Report (Friday)

 

THIS WEEK

Upcoming Economic Reports & Releases:

Major Indicators

• Labor Market Conditions Index (10am, Monday)
• Productivity and Costs (8:30am, Tuesday)
• Consumer Credit (3pm, Tuesday)
• Job Openings and Labor Turnover Survey (10am, Wednesday)
• Wholesale Trade (10am, Thursday)
• Treasury Budget (2pm, Friday)

 

Chart of the Week:

 

 

The Centers for Disease Control and Prevention (CDC) annually publishes data on the estimated life expectancy and fertility rates of Americans. Notably, as a marker of improved living standards over time, life expectancy for both men and women has continued to increase through 2014 (the latest data available). Economist Don Boudreaux notes that, although the months added to overall life expectancy over time has varied between an average of 1.3 and 3.5 months per decade measured, the CDC report projects that the 2011-2020 decade will add an average of only 0.3 months to overall life expectancy.