ISM Manufacturing Index
The manufacturing sector is slowing, especially the export sectors. According to the ISM survey of purchasing managers, there is concern over the effect of trade talks and tariffs, especially those with China and Mexico. The coming “Brexit” deadline (October 31, 2019) also adds to the global angst over trade and demand.
The labor market remains healthy, as job creation continues and shortages in many specialties persist. According to the BLS, there are 7.3 million unfilled jobs as of the latest survey. This tight market has lead to a 4% annualized increase in the average U.S. wage paid.
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