Employment/Labor includes blogs about job openings, employment rates, residential construction wages, demographics in construction etc.
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 ongoing strength in hiring despite persistent economic uncertainty. However, there were some indications that the headline number overstated the health of the labor market, including…
The count of open, unfilled positions in the construction industry held steady amid a slowdown for housing, per the May Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The number of open jobs for the overall economy increased slightly from 7.40 million in April to 7.77 million in May. This is smaller than…
Nonfarm payroll employment increased in 37 states in May compared to the previous month, while it decreased in 10 states and the District of Columbia. The three remaining states, Alaska, Delaware, and New Jersey reported no change. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 139,000 in May following…
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 jobs and economic growth. A recent study by Ping Wang and Tsz-Nga Wong, titled “Artificial Intelligence and Technological Unemployment” (NBER Working Paper No. 33867, May…
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 and April were notably revised downward. The unemployment rate remained at 4.2%. In May, wage growth remained unchanged. Year-over-year, wages grew at a 3.9% rate….
Wage growth in construction continued to decelerate in April on a national basis, but the differences across regional markets remain stark. Nationally, average hourly earnings (AHE) in construction increased 3.6% year-over-year and crossed the $39.3 mark when averaged across all payroll employees (non-seasonally adjusted, NSA). Meanwhile, average earnings in construction in Alaska and Massachusetts exceeded…
The count of open, unfilled positions in the construction industry held steady amid a slowdown for housing, per the April Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS). The number of open jobs for the overall economy increased slightly from 7.20 million in March to 7.39 million in April. This is notably smaller…
