US Economy: Jobless Claims Rise, Trade Gap Widens

Trade Balance & GDP Growth - The trade deficit widened to $783 billion from $602 billion [1] - Imports increased by 59%, while exports increased by 03% [1] - Increased imports may negatively impact GDP growth outlook for the third quarter [2] - The increase in imports may be due to companies stocking up before tariffs were reimposed in August [2] - August trade numbers may differ if the import surge reverses [3] Labor Market - Jobless claims are now at 37000, slightly higher than the anticipated 23000 [1] - Continuing claims are at 194 million, down from 10000944 [1] - ADP reported only 54000 jobs created [2]