Employers added 263,000 private sector jobs last month. The increase in March exceeded economists expectations.“The gains are broad based but most notable in the goods producing side of the economy including construction, manufacturing and mining,” said Mark Zandi, chief economist at Moody’s Analytics.
In January, the US. trade deficit hit a five-year high as Chinese importers rushed to ship their goods off to the U.S. before they shut down for the annual two-week lunar new year holiday season, which resulted in the plummeting of the monthly trade deficit in February. The 2017 the U.S. trade gap with China is on track to top $300 billion for the fourth straight year. The trade deficit totaled $501 billion in 2016 and China accounted for about 62% of the overall gap. By contrast, China accounted for just about one-fifth of the U.S. trade deficit at the turn of the century.
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