U.S. Unemployment Rate
Unemployment trends remain strong, as indicated above. The most recent unemployment rate was 3.9%, with 164,000 new jobs recorded in the most recent month. Interestingly, the ISM Manufacturing report for April indicated a decline in sector employment.
ISM Manufacturing PMI
The PMI Manufacturing Index measures economic activity in the manufacturing sector. The March and April reports were lower than the recent cycle peak (February 2018), indicating a modest cooling in the sector.
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