Eye On Housing
Nonfarm payroll employment increased in 43 states in November compared to the previous month while seven states and the District of Columbia lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 210,000 in November, following an upwardly revised increase of 546,000 jobs in October.
On a month-over-month basis, employment data was strong in Texas, which added 75,100 jobs, followed by Florida (+51,100) and California (+45,700). Seven states and the District of Columbia lost a total of 10,700 jobs. In percentage terms, North Dakota employment increased by 0.8% while Alaska reported a 0.2% decline between October and November.
Year-over-year ending in November, 5.8 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 821,800 jobs in California to 1,700 jobs added in Wyoming. In percentage terms, Hawaii reported the highest increase by 8.4%, while Wyoming increased by 0.6% 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— 35 states reported an increase in November compared to October, while 12 states lost construction sector jobs. Kansas reported no change. Florida added 8,200 construction jobs while Louisiana lost 2,200. Overall, the construction industry added 31,000 jobs in November compared to the previous month. In percentage terms, Montana increased by 2.7% while Louisiana reported a decline of 1.8% between October and November.
Year-over-year, construction sector jobs in the U.S. increased by 180,000, which is a 2.4% increase compared to the November 2020 level. California added 32,100 jobs, which was the largest gain of any state, while New York lost 10,200 jobs, which was the largest decline. In percentage terms, South Dakota had the highest annual growth rate in the construction sector by 10.9%. Over this period, Arkansas reported the largest decline at 6.4%.
Leave a Reply