Eye On Housing
The Bureau of Labor Statistics (BLS) released its Employment Situation report for February. Nonfarm payrolls expanded by 235 thousand and the prior two months were revised a net 9 thousand higher. The unemployment rate edged lower to 4.7%, based on a strong gain in employed persons (447 thousand) that outpaced a strong gain in the labor force (340 thousand), from… Read More ›
The count of unfilled jobs in the overall construction sector declined recently, as residential construction employment accelerated in the last three months. 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 148,000 in December. The cycle high was 225,000 set in July. The open position rate (job openings… Read More ›
The Bureau of Labor Statistics (BLS) released its Employment Situation report for January including the standard annual revisions to earlier years. The revisions include benchmarking payroll employment counts to reflect more comprehensive counts, affecting data from April 2015 forward, and updated seasonal adjustment factors, affecting data from January 2012 forward. Historical data from the household survey is not revised but… Read More ›
The count of unfilled jobs in the overall construction sector remained elevated in November, as residential construction employment continues 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 184,000 in November. The cycle high was 225,000 set in July. The open position rate (job… Read More ›
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 ›
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 ›
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 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 ›
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 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 ›