First things first: Misty Clanton has taken the oath of office as DeRidder’s first female mayor, the American Press reports. Clanton has served as the city’s community service director for the past nine years. She says she has a “strong passion” for the city and is ready to move the community forward. Read the full story.
Monthly metrics: U.S. employers kept up a brisk hiring pace in June by adding 213,000 jobs in a sign of confidence despite the start of a trade war with China. The Labor Department announced this morning that the unemployment rate rose to 4%, up from 3.8%, as more people began looking for work and not all of them found it. Average hourly pay rose just 2.7% from a year earlier. The low jobless rate has yet to force employers to offer higher wages in order to fill job openings. Read the full story.
The down low: The U.S. trade deficit dropped in May to the lowest level in 19 months as U.S. exports rose to a record level. But the trade gap between the United States and China increased sharply, underscoring the economic tensions between the world’s two biggest economies. The Commerce Department announced today that the May trade deficit fell 6.6% to $43.1 billion. Exports climbed 1.9% to a record $215.3 billion. Imports were up a smaller 0.4% to $258.4 billion. Read the full story.
