Employment/Labor includes blogs about job openings, employment rates, residential construction wages, demographics in construction etc.
Job growth remained solid in August, with 315,000 net job growth. However, the unemployment rate rose 0.2 percentage points to 3.7% in August, as the labor market participation rate expanded. “Softer labor market conditions” are expected in the near future as the Fed raises interest rates aggressively into 2023 to bring inflation lower. The headline…
Nonfarm payroll employment increased in 46 states and the District of Columbia in July compared to the previous month while four states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 528,000 in July, following a gain of 398,000 jobs in June. As of July 2022, the U.S….
The construction labor market is cooling off as economic activity slows in response to tighter monetary policy per the latest job openings data. Given the Fed’s dual mandate of fighting inflation and maintaining maximum employment, macro price and jobs data are key to informing the Fed’s future policy moves. Inflation remains near a 40-year high…
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 industry employment (both residential and non-residential) totaled 7.7 million and has exceeded its February 2020 level. In July, residential construction gained 14,100 jobs, and non-residential…
Nonfarm payroll employment increased in 38 states in June compared to the previous month while 11 states and the District of Columbia lost jobs. Rhode Island reported no change. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 372,000 in June, following a gain of 384,000 jobs in May. On…
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 residential and non-residential) totaled 7.7 million and has exceeded its February 2020 level. In June, residential construction lost 4,100 jobs, and non-residential construction added 16,500…
The earlier June post highlighted the rising number and share of Hispanics in the construction industry. Hispanics now account for almost a third of the construction workforce, according to the 2021 Current Population Survey. In this post, we focus on the regional and state-level differences in the racial and ethnic composition of the construction labor…
