Tag Archive for ‘labor market’

Construction Job Openings Remain High as Hiring Slows

The count of construction job openings fell somewhat in June, albeit from an upwardly revised estimate for the month of May. Post-revision, the May count of unfilled construction positions was second only to the month of March. The number of unfilled jobs in construction remains high, even as hiring slowed for the residential construction sector in recent months. According to the… Read More ›

The Employment Situation in July – March to September

The Employment Situation report for July offered more evidence of steady progress in the labor market recovery, the accumulated improvement that may convince the Federal Reserve that it’s time to start raising interest rates. The Bureau of Labor Statistics (BLS) reported that payroll employment expanded by 215 thousand in July. Revisions to May and June added 14 thousand additional jobs…. Read More ›

Unexpected Decline in Consumer Confidence in July

Consumer sentiment and consumer confidence are two indexes showing consumers’ perceptions of current business, income and employment conditions, as well as their expectations for the future’s economy. In July, both the University of Michigan Index of Consumer Sentiment and the Conference Board Consumer Confidence Index declined unexpectedly after the solid growth in June. Despite the monthly declines the indexes have… Read More ›

Consumer Confidence Zigzags in 2015

Consumer sentiment and consumer confidence are two indexes showing consumers’ perceptions of current business, income and employment conditions, as well as their expectations for the future’s economy. They are both highly (inversely) correlated with the unemployment rate. Based on the data from the past three decades, the Consumer Confidence Index and the Consumer Sentiment Index increase when the unemployment rate… Read More ›

Count of Open Construction Jobs in March

The number of open, unfilled construction sector positions remained elevated in March. Over the last few months, the construction labor market has experienced swings in the monthly count of new hires, as the share of open construction jobs has trended higher. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a… Read More ›

Consumer Confidence and Economic Cycles

Consumer sentiment and consumer confidence are two indexes showing consumers’ perceptions of current business, income and employment conditions, as well as their expectations for the near future’s economy.   Figure 1 shows both the University of Michigan Index of Consumer Sentiment and the Conference Board Consumer Confidence Index are highly inversely correlated with the unemployment rate. High unemployment drives down… Read More ›

Eye on the Economy: Weak Employment Gains in March

The March employment report disappointed most economists, casting some doubt on the strength of the labor market. The Bureau of Labor Statistics reported that payroll employment expanded by only 126,000 positions, with downward revisions totaling 69,000 for previously reported jobs gains in January and February. While the unemployment rate held steady at 5.5%, the downshift in the size of monthly… Read More ›