Tag Archive for ‘employment’

Age of the Construction Labor Force

A scarcity of workers has been a notable headwind for home building and other parts of the construction industry in recent years. And a look at Census data reveals that the average age of workers in the construction industry exceeds the average age of the overall labor force. As home building has recovered, there has been a significant labor market… Read More ›

Construction Sector a Leader for Job Growth over the Next Decade

The construction industry is expected to experience a significant amount of employment growth over the next decade, according to new projections from the Bureau of Labor Statistics (BLS). The BLS employment projections are designed to estimate labor market changes given assumptions and estimates involving structural economic factors. The estimates assume full employment and do not attempt to estimate cyclical or business cycle effects. The current edition… Read More ›

Residential Construction Employment: Strong Growth in November

The count of unfilled jobs in the overall construction sector was steady in October, as hiring in the home building sector kicked into high gear in November. 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) increased to 126,000 in October from 119,000 in September. The cycle high of 168,000… Read More ›

The Employment Situation in November – All Systems Go, Ready For Liftoff

The Bureau of Labor Statistics (BLS) reported payroll employment expanded by 211 thousand in November and revisions added 35 thousand to estimates for the prior two months. The household survey showed strong gains in both the labor force (273 thousand) and persons employed (244 thousand). The unemployment rate held steady at 5.0%. Payroll gains are back on track with earlier… Read More ›

Job Openings in Construction: September Data

The count of construction job openings declined in September as hiring in the home building sector remained slow. The average monthly employment gain for builders and remodelers has been approximately 4,700 over the last six 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) dipped to… Read More ›

The Employment Situation in October – Back on Track(?)

The labor market rebounded in October from unexpected weakness in August and September but are the signals of recent months indicating strength, weakness or volatility? The Bureau of Labor Statistics (BLS) reported payroll employment expanded by 271 thousand in October, a solid recovery from the 145 thousand average in August and September. Revisions added 12 thousand to earlier estimates for… Read More ›

Residential Construction Hiring Slows

The count of construction job openings held steady in August as hiring in the home building sector continued to slow. The average monthly employment gain for builders and remodelers is just over 5,500 over the last six 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) was effectively… Read More ›

The Employment Situation in September – Loosening the Hawks’ Grip

Today’s employment report was disappointing on all fronts: weak payroll growth, downward revisions to prior months, and another decline in the participation rate. The unemployment rate was unchanged only because the labor force shrank faster than the number of employed persons. The Bureau of Labor Statistics (BLS) reported that payroll employment expanded by 142 thousand in September, well below expectations…. Read More ›

Construction Job Openings Steady, Hiring Slowing

The count of construction job openings held steady in July, as hiring in the home building sector slowed. 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) remained constant at 137,000 for July. This is somewhat lower than the cycle high of 168,000 set during March…. Read More ›