5/8: MetroIntelligence Economic Update by P.DUFFY

Job growth rebounded to 164,000 in April, unemployment edged down to 3.9 percent

Total nonfarm payroll employment increased by 164,000 in April, and the unemployment rate edged down to 3.9 percent, due mostly to the labor force shrinking by 236,000 as Baby Boomers step up retirement.  Job gains occurred in professional and business services, manufacturing, health care, and mining.

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March U.S. trade deficit dropped 15.1 percent from February, but still up 18.5 percent YTD year-on-year

The goods and services deficit was $49.0 billion in March, down 15.1 percent from February.  Year-to-date, the goods and services deficit increased $25.5 billion, or 18.5 percent, from the same period in 2017.

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Gallup:  1/3 of Americans consider real estate as best long-term investment vs. 1/4 for stocks

More Americans name real estate over several other vehicles for growing wealth as the best long-term investment for the fifth year in a row. Just over a third cite real estate for this, while roughly a quarter name “stocks or mutual funds.” Gold, mentioned by 17%, roughly ties “savings accounts or CDs” at 15%, while only a few Americans, 6%, name bonds.

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