Tag Archive for ‘labor market’

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 ›

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 ›

Share of Remodelers Reporting Labor Shortages Climbs Even Higher

Eighty percent of remodelers reported a shortage of finished carpenters (and 41 percent said the shortage was serious), according to special questions on NAHB’s Remodeling Market Index (RMI) survey in the 3rd quarter of 2015. That’s 8 percentage points higher than NAHB remodelers were reporting just a year ago. The RMI survey asked remodelers about availability of labor in the 12 categories recommended by Home… 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 ›

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 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 ›