Private sector employment increased by 98,000 jobs in June and pay was up 4.4 percent year-over-year according to the June ADP National Employment Report®produced by ADP Research in collaboration with the Stanford Digital Economy Lab (“Stanford Lab”). View the ADP National Employment Report and interactive charts at adpemploymentreport.com. ADP: National Employment Report for June
Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the first quarter of 2026 (January, February, and March), according to the third estimate released today by the S. Bureau of Economic Analysis. In the fourth quarter of 2025, real GDP increased 0.5 percent. The contributors to the increase in real GDP in the first quarter were investment, exports, government spending, and consumer spending. Imports, which are a subtraction in the calculation of GDP, increased. In the first quarter of 2026, current-dollar personal income increased $222.6 billion, or 3.4 percent at an annual rate. Personal income increased in 49 states (–23.9 percent in Hawaii.) GDP Increases in the First Quarter of 2026
The report was issued today by Susan Spence, MBA, Chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee. Economic activity in the manufacturing sector expanded in April for the fourth consecutive month, say the nation’s supply executives in the latest ISM® Manufacturing PMI® Report. “The Manufacturing PMI® registered 52.7% in April, the same reading as March. The overall economy continued in expansion for the 18th month in a row. (A Manufacturing PMI® above 47.5%, over a period of time, generally indicates an expansion of the overall economy.) The Employment Index registered 46.4%, down 2.3 percentage points from March’s figure of 48.7%,” says Spence. April
US negotiators have reached new trade agreements with several nations, Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent each said Sunday, adding that President Donald Trump has moved the start date for all tariff changes from Wednesday to August 1 to provide additional negotiating time with more countries. Countries without a deal by then will see tariffs return to April 2 levels, Lutnick and Bessent said. Lutnick Says Trump’s Tariffs Will Take Effect on Aug. 1 – Bloomberg
The job gains were significantly larger than expected and the unemployment rate ticked down in May. S. employers added 147,000 jobs in June and beat economists’ expectations of fewer than 118,000 new jobs as the American labor market continues to show surprising resilience despite uncertainty over President Donald Trump’s economic policies. The unemployment rate ticked down to 4.1% from 4.2% in May, the Labor Department said Thursday. US Labor Market Remains Resilient, Unemployment Rate Falls – tEDmag
President Donald Trump’s policies will reduce US fiscal deficits by up to $11 trillion over the coming decade, according to the White House’s chief economist Stephen Miran, Chair of the Council of Economic Advisers— a projection that defies analysts who say government debt is poised to climb to record highs in coming years. About half the savings, or $3 trillion to $5 trillion, would come from faster economic growth — thanks to the pending Republican tax cut bill, along with deregulation efforts — Miran argued. He also cited a $3 trillion bump in revenues from Trump’s tariff hikes, referring reporters to the Congressional Budget Office’s recent calculation — which came in at $2.8 trillion. Reduced debt loads thanks in part to those savings will help to bring down the US Treasury’s interest costs by approximately $1 trillion to $1.5 trillion, he said. “Those are very big numbers.” Trump Policies Will Cut Deficits Up to $11 Trillion, White House Economist Says
Top 100 distributors are divided over the direction of the 2025 economy, but they are still making major capital investments in their companies to position them for growth. It’s tough to pinpoint exactly why Top 100 distributors are all over the map with their economic expectations, especially when outside of the uncertainty over tariffs and concern over the size of the national debt, the overall U.S. economy is still growing at a steady if unspectacular rate. Unemployment is currently not growing at a dangerous rate, inflation has not hit the danger zone, and while the expected real GDP growth rate of less than 2% for Q2 2025 will elicit plenty of yawns, it’s still expected to land on the positive side of the ledger for this quarter. The Top 10:
Electrical Wholesaling’s 2025 Top 100 Electrical Distributors | Electrical Wholesaling
A key U.S. inflation gauge slowed last month as President Donald Trump’s tariffs have yet to noticeably push up prices. Friday’s report from the Commerce Department showed that consumer prices rose just 2.1% in April compared with a year earlier, down from 2.3% in March and the lowest since September. Excluding the volatile food and energy categories, core prices rose 2.5% from a year earlier, below the March figure of 2.7%, and the lowest in more than four years. Economists track core prices because they typically provide a better read on where inflation is headed. US Inflation Gauge Cools With Little Sign of Tariff Impact, So Far – tEDmag
It’s Back to School – How Some of Our Most Acknowledged Universities Got Their Name – Who were the true visionaries who would donate half of their estate to sculpting the minds of the future. These stories are monuments to history and culture. Let’s take a stroll through academia’s memory lane and uncover the origins of these storied university names!
