Tag Archive for ‘unemployment rate’

Job Market Gains Continue

Surpassing recent dampened expectations, total payroll employment rose by 1.8 million and the unemployment rate declined to 10.2% in July. The U.S. labor market continues to recover from the COVID-19 crisis. Residential construction employment rose by 24,000 in July to 2.8 million. Total construction industry (both residential and nonresidential) employment rebounded to nearly 7.2 million in July. It is worth… Read More ›

Business Application Shows Growth in Q2 2020

Housing creates jobs, and housing in turn follows job growth from business activity. Thus, tracking the growth of enterprise provides a guide to future home building. The Census Bureau recently released its Second Quarter 2020 Business Formation Statistics Report (BFS). The report provides timely and high-frequency data on business applications and employer business formations measured by applications for an Employer… Read More ›

U.S. Added 4.8 Million Jobs in June

In June, total payroll employment rose by 4.8 million and the unemployment rate dropped to 11.1%. The June data indicate that labor market is recovering from the COVID-19 crisis, though the road to a full recovery may be long. Residential construction employment rose by 83,200 in June to 2.8 million. Total construction industry (both residential and nonresidential) employment rebounded to… Read More ›

April Consumer Credit Indicates Recovery Challenges

The Federal Reserve’s latest G.19 Consumer Credit Report shows trends in consumer credit, excluding loans secured by real estate, through April 2020. In April, consumer credit decreased at a seasonally adjusted annual rate of 19.6% from the previous month, with revolving debt1 decreasing by 64.9% and nonrevolving debt2 decreasing by 4.0 percent. Consumer credit totaled $4.1 trillion on a seasonally… Read More ›

Surprise Data: Unemployment Rate Drops to 13.3% in May

In May, the unemployment rate posted a surprise decline to 13.3% and total payroll employment rose by 2.5 million as the economy partially reopened. Residential construction employment rose by 226,000 in May to 2.7 million, partially reversing a loss of 422,000 in April. Total construction industry (both residential and nonresidential) employment rebounded to 7.0 million in May. In the Employment… Read More ›

Payroll Employment Plunged in April

Total payroll employment fell by 20.5 million in April and the unemployment rate soared to 14.7%. Residential construction employment decreased by 415,000 in April to 2.5 million. This drop brought the current level of residential construction employment back to the level in December 2015 (2,538,000 jobs). Total construction industry (both residential and nonresidential) employment dropped by about 1 million to… Read More ›

Significant Loss Began to be Reported in March Jobs Report

Total payroll employment fell by 701,000 in March and the unemployment rate rose to 4.4%. The March loss reflected the impact of the COVID-19 outbreak. Residential construction employment decreased by 4,300 in March, after a revised increase of 24,100 in February. Total construction industry (both residential and nonresidential) employment totaled about 7.6 million in March. The Bureau of Labor Statistics… Read More ›

Exceptional Job Gains for February

The U.S. job market remained strong in February. Total payroll employment increased by 273,000 and the unemployment rate was 3.5% for the month. Residential construction employment increased by 21,900 in February, after a revised increase of 22,400 in January. Total construction industry (both residential and nonresidential) employment totaled about 7.6 million in February. The Bureau of Labor Statistics released the… Read More ›

A Strong Start for 2020

The labor market started the new year with a solid gain. Total payroll employment increased by 225,000 and the unemployment rate was 3.6% in January. Residential construction employment increased by 20,200 in January, the largest gain in the past twelve months. Total construction industry (both residential and nonresidential) employment totaled about 7.6 million in January. The Bureau of Labor Statistics… Read More ›

145,000 Jobs Added in December

Total payroll employment increased by 145,000 and the unemployment rate was unchanged at 3.5% in December. Residential construction employment increased by 3,200 in December, after a decline of 1,100 jobs in November (revised). Total construction industry (both residential and nonresidential) employment totaled about 7.6 million in December. The Bureau of Labor Statistics released the Employment Situation Summary for December. Total… Read More ›