According to NAHB analysis of the Survey of Construction (SOC), new single-family starts expanded at a fast pace in 2021. Nationally, 1,133,145 new single-family units were started in 2021, 14%
Job growth accelerated in July amid higher inflation and growing economic pressures. Total nonfarm payroll employment increased by 528,000, and the unemployment rate edged down to 3.5% in July. Construction
The U.S. economy definitively slowed in the first half of 2022 as the Federal Reserve tightened financial conditions. Real GDP fell for the second straight quarter, while the Fed raised
Lumber prices have been on a roller-coaster ride over the past two years and reached to an all-time high price of $1,515 per thousand board feet in the week ending
Average hourly earnings for residential building workers* continue to rise in May as the construction labor market remains tight, meanwhile the growth rate is trending down given tightening financial conditions
Despite interest rate hikes, job growth remained solid in June. Total nonfarm payroll employment increased by 372,000 and the unemployment rate remained at 3.6% in June. Construction industry employment (both
In May, total nonfarm payroll employment increased by 390,000 and the unemployment rate was unchanged at 3.6%. Solid job gains continued in May, despite surging inflation, persistent supply-chain issues, and
National home prices grew at an unsustainable pace in March, reaching an all-time high. This indicates that the imbalanced market with strong demand and record-low inventory continued to put upward
Total nonfarm payroll employment increased by 428,000 in April, and the unemployment rate was unchanged at 3.6%. The April’s data indicate that the labor market remained healthy despite surging inflation,
In the first quarter of 2022, real GDP declined for the first time since the pandemic recession, as inflation surged to a 40-year high and supply chain disruptions remain persistent.
Compared to a year ago, average hourly earnings for residential building workers continue to rise, as the construction labor market remains tight. According to the Bureau of Labor Statistics (BLS)
Total nonfarm payroll employment increased by 431,000 in March, and the unemployment rate fell to 3.6% from 3.8%. The labor market recovery is continuing, as employment in some sectors, such
Job growth accelerated in February with widespread gains across industries. Total nonfarm payroll employment increased by 678,000 in February, and the unemployment rate edged down to 3.8%. Construction industry employment
National home prices grew at an unsustainable pace in December, supported by strong demand and record-low inventory. Home price appreciation is expected to slow in the coming quarters as rising
Despite the omicron surge, the U.S. job market experienced solid gains. Total nonfarm payroll employment increased by 467,000 in January, and the unemployment rate ticked up slightly to 4.0%. Additionally,
Real GDP growth accelerated in the fourth quarter of 2021 despite omicron’s spread. This quarter’s growth reflected strong gains in private inventory investment and consumer spending. According to the “advance”
Average hourly earnings for residential building workers have been growing fast recently, driven by the tightening construction labor market. Last Friday, the Bureau of Labor Statistics (BLS) reported that the
Job gains slowed sharply for the second straight month in December as the Omicron variant began to spread. Nonfarm payrolls increased by 199,000 in December, and the unemployment rate fell