Eye On Housing
Total nonfarm employment, seasonally adjusted (SA) increased by 2.5 million jobs, year-over-year (YoY), or 1.7% from March 2018 to March 2019. During this time, total nonfarm employment in the West region increased by 1.7%. The South, Northeast, and Midwest recorded gains at 1.6%, 0.9% and 0.6% respectively, during this time.
According to the Bureau of Labor Statistics, nonfarm payroll employment increased in 30 states and the District of Columbia, decreased in 16 states in March 2019 compared to February 2019. Montana remained unchanged. Washington added 27,900 jobs, which was the largest gain of any state. The largest decline came from Nebraska which lost 3,100 jobs during this time. Nationwide, total nonfarm payroll employment increased by 196,000 over the month of March, stronger than the revised up increase of 33,000 jobs added in February.
Year-over-year, ending in March, except for Rhode Island, Louisiana and Nebraska, all other states and the District of Columbia increased in employment. Texas added 271,000 workers while the smallest gain came from Nebraska which added 200 workers during this time. Rhode Island lost 1,000 payroll jobs during this time. In percentage terms, 13 states recorded annualized growth equal to and/or above 1.7% in employment, which was the national growth rate. Nevada recorded the highest growth rate at 3.4%. The other 38 states and the District of Columbia recorded annualized growth between -0.2%-1.6%.
In the construction sector specifically, which includes both residential and non-residential construction, across the 48 states which reported construction sector jobs data, 27 states had an increase in March, 18 states reported a decline, and three states remained unchanged compared to February. Washington added 14,800 jobs, the highest gains in construction employees while Pennsylvania lost 1,800 workers during this time.
Year-over-year, the U.S added 246,000 construction sector jobs which is a 3.4% increase compared to March 2018. Texas added 28,300, which was the largest gains of any state while Louisiana lost 7,900, which was the largest decline of any state. In percentage terms, West Virginia had the highest annual growth in construction sector by 44.6%. Over this period, Vermont reported the largest decline at 7.8%.
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