In April 2020, total payroll employment in the United States fell by an unprecedented 20.5 million, following a loss of 1.4 million in March, as the COVID-19 pandemic brought the
Between February 2020 and June 2022, the U.S. labor market experienced the deepest downturn on record followed by the fastest recovery in at least a century. The COVID-19 pandemic disrupted
A modest drop in mortgage rates led to a surprisingly large jump in new home sales in August, though the figure may be revised downward in the coming month. Sales
In August, the official, or standardly referenced, unemployment rate rose slightly to 4.3%, up from 4.2% in July. This marks the highest level in nearly four years, though it remains
Job growth slowed sharply in August, and the unemployment rate rose to its highest level in nearly four years. The latest jobs report, along with downward revisions to previous months’
House price growth continued to slow in the second quarter of 2025, as the housing market faces mounting pressure from high mortgage rates, elevated inventory, and persistent economic uncertainty. After
Wood framing continues to dominate the U.S. single-family home construction market, according to NAHB analysis of 2024 Census Bureau data. In 2024, wood framing accounted for 94% of all completed
High mortgage rates, rising construction costs and economic uncertainty continue to deter many potential home buyers during this summer season. Sales of newly built single-family homes edged 0.6% lower in
Both real and nominal wage growth for residential building workers slowed during the second quarter of 2025, reflecting a broader cooling in the construction labor market, according to the latest
Real GDP growth rebounded in the second quarter, driven by a turnaround in the trade balance and stronger consumer spending. According to the “advance” estimate released by the Bureau of
From 2020 to 2024, sales of lower-priced new homes declined significantly as the market moved toward higher-priced segments. Rising construction costs—driven by inflation, supply chain disruptions, and labor shortages—as well
Remote work may no longer dominate the U.S. labor force as it did during the height of the pandemic in 2020, but it still represents a substantial share of employment
The U.S. labor market continued to show resilience in June, with steady job gains led by state/local government and health care sectors. The unemployment rate edged down to 4.1%, signaling
Despite persistently high mortgage rates, elevated financing costs for builders, and a shortage of buildable lots, single-family starts rebounded in 2024, following two straight years of declines. According to the
House price growth slowed in the first quarter of 2025, partly due to a decline in demand and an increase in supply. Persistent high mortgage rates and increased inventory combined
The rapid rise of artificial intelligence (AI), particularly machine learning and generative AI (GenAI), is reshaping industries, creating new economic opportunities, and raising critical questions about its long-term impact on
Despite ongoing economic and policy uncertainty, the labor market remains resilient, though early signs of softening are beginning to emerge. Job growth moderated in May, and employment figures for March
Wage growth for residential building workers continued to slow in March 2025, reflecting softening in the construction labor market, according to the latest report from the U.S. Bureau of Labor