At the same time, revisions to last year's data show that job gains averaged just 15,000 a month last year, down from the initially reported pace of 49,000.

It was not fully clear whether he was referring to year-over-year growth, but the U.S. economy has grown at an average annual rate of 2.8% over the past five decades.

"The U.S.–India trade deal can be considered as a positive from macro and market standpoint. However, one should wait for the fine print for more clarity."

"Plan sponsors should brace for continued litigation, as plaintiffs seek to up-end longstanding assumptions about voluntary benefits and expand the scope of fiduciary liability."