Tag Archive for ‘employment’

The Employment Situation in December – Good Enough

The Bureau of Labor Statistics (BLS) reported payroll employment rose by 156 thousand in December and revisions to estimates for the prior two months were mixed but added a net 19 thousand. The unemployment rate rose to 4.7% from 4.6% in November, an increase that barely escaped rounding error magnitude. Average hourly earnings rose 2.9% over the year. A broader… Read More ›

Residential Construction Employment Grew in November

The count of unfilled jobs in the overall construction sector remained elevated in October, as residential construction employment continued to grow. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a seasonally adjusted basis) came in at 205,000 in October, after reaching 221,000 in September. The cycle high was 225,000 set in July. The… Read More ›

The Employment Situation in November – Step Two

Steady payroll gains, a drop in the unemployment rate, decent wage gains. The stage is set for the Federal Reserve to take a second step on the path to monetary policy normalization at the upcoming December meeting. The Bureau of Labor Statistics (BLS) reported payroll employment rose by 178 thousand in November and revisions to estimates for the prior two… Read More ›

The Employment Situation in October – No Surprise

The labor market report for October showed steady gains in payroll employment, little change in the unemployment rate and a slight acceleration in wage gains. No surprises. The Bureau of Labor Statistics (BLS) reported payroll employment rose by 161 thousand in October and upward revisions added 44 thousand to estimates for the prior two months. Payroll gains have averaged 176… Read More ›

Construction Job Openings Decline in August

The count of unfilled jobs in the overall construction sector fell in August, as residential construction employment hiring accelerated in August and September. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a seasonally adjusted basis) fell to 184,000 in August, after establishing a cycle high of 225,000 in July (post-data revisions). The July estimate represents… Read More ›

The Employment Situation in September – Solid, But Still Working On It

The Bureau of Labor Statistics (BLS) reported payroll employment rose by 156 thousand in September and the unemployment rate inched up to 5.0%. Payrolls for the prior two months were revised in opposite directions with a net reduction of seven thousand. Payroll growth edged down and the unemployment rate edged up but the employment situation in September is better than… Read More ›

FOMC Statement: All Eyes on December

The statement released following the September meeting of the Federal Open Market Committee (FOMC) fell in line with market expectations as the committee chose to keep the federal funds rate unchanged.  The Committee’s assessment of the economy remained positive, leaving a December rate hike very much in play.  In the statement, the Committee continued its upbeat assessment of labor and economic activity…. Read More ›

Job Openings and Hiring Increase in Construction

The count of unfilled jobs in the overall construction sector rose in July, nearing the post-Great Recession high set in March. Residential construction hiring has also increased, after a period of soft gains in jobs. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a seasonally adjusted basis) rose to 214,000 in July, after establishing a… Read More ›

States with the Fastest Growing Construction Employment

NAHB’s analysis of July regional employment data from the BLS shows that states with the highest annual growth rates of total construction employment are Iowa (16.52%), Hawaii (12.89%), Idaho (12.63%), and Colorado (10.88%), compared to the national average growth rate of 4.55%.   Thirty-nine states and District of Columbia experienced positive year-over-year changes in construction employment in July. On a… Read More ›