Eye On Housing
Nonfarm payroll employment increased in 31 states in August compared to the previous month while 19 states and the District of Columbia lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased at a slower rate by 235,000 in August, following an upwardly revised increase of 1,053,000 jobs in July.
On a month-over-month basis, employment data was strong in California, which added 104,300 jobs, followed by Texas (+39,300) and New York (+23,500). Nineteen states and the District of Columbia lost a total of 64,100 jobs, where the largest decline was reported in North Carolina (-13,200). In percentage terms, Kentucky employment increased by 1.1% while Hawaii reported a 1.0% decline between July and August.
Year-over-year ending in August, 6.0 million jobs have been recovered marking the economic rebound from the COVID-19 pandemic induced recession. All the states and District of Columbia added jobs compared to a year ago. The range of job gains spanned 874,300 jobs in California to 4,100 jobs added in Wyoming. In percentage terms, Hawaii reported the highest increase by 9.4%, while Wyoming increased by 1.5% compared to a year ago.
Across the 48 states which reported construction sector jobs data—which includes both residential as well as non-residential construction— 24 states reported an increase in August compared to July, while 21 states lost construction sector jobs. Colorado, South Dakota, and Utah reported no change. Nevada added 3,000 construction jobs while Kansas lost 2,400. Overall, the construction industry lost 3,000 jobs in August compared to the previous month. In percentage terms, New Hampshire increased by 4.4% while Kansas reported a decline of 3.7% between July and August.
Year-over-year, construction sector jobs in the U.S. increased by 193,000, which is a 2.7% increase compared to the August 2020 level. California added 35,900 jobs, which was the largest gain of any state, while New York lost 11,700 jobs, which was the largest decline. In percentage terms, Rhode Island had the highest annual growth rate in the construction sector by 13.9%. Over this period, Wyoming reported the largest decline at 7.7%.
Leave a Reply