Eye On Housing
Job gains unexpectedly slowed in April as states lifted COVID-19 restrictions on businesses and more people are vaccinated. Total payroll employment rose by only 266,000 and the unemployment rate increased to 6.1% in April. This was a surprisingly disappointing report on the macro level. Residential construction employment rose by 3,100 in April, after an increase of 28,700 in March. Non-residential… Read More ›
According to the latest 2019 ACS, over 11 million people, including self-employed workers, worked in construction in 2019. NAHB Economics estimates that out of this total, 4.4 million people worked in residential construction, accounting for 2.8% of the US employed civilian labor force. Home building in Florida, Vermont and multiple states in the Mountain Division stand out for generating a… Read More ›
Job openings in construction declined in February to 266,000 unfilled positions, according to data from the BLS Job Openings and Labor Turnover Survey (JOLTS). Hiring appeared to gain steam in February, although this was perhaps just statistical noise for the monthly data. However, March payroll employment numbers indicate strength ahead for the JOLTS construction data. Overall, hiring in the construction… Read More ›
Total payroll employment rose by 916,000 and the unemployment rate declined to 6.0% in March. The labor market is improving as many states ease business restrictions and more people are vaccinated. Residential construction employment increased by 37,000 in March, while non-residential construction added 73,100 jobs. Currently, employment in residential construction surpassed the level in February 2020, while only 64% of… Read More ›
Job openings in construction increased in January to the highest count since the Fall of 2019 according to data from the BLS Job Openings and Labor Turnover Survey (JOLTS). Hiring in construction was strong as 2021 began. However, construction employment did decline in February as material prices increased. The JOLTS data is reported with a one-month lag, so the February… Read More ›
According to the most recent American Community Survey (ACS), the number of immigrant workers in construction approached 2.8 million in 2019, the highest level recorded by the ACS. Immigrant workers now account for 24% of the construction workforce, slightly below the 2016 record high share of 24.4%. The share of immigrants is higher in construction trades, reaching 30%. The latest… Read More ›
Total payroll employment rose by 379,000 and the unemployment rate declined to 6.2% in February. The labor market is showing signs of recovery as some states start to ease business restrictions gradually. Employment in construction declined in February due to the severe winter weather in many states. Non-residential construction lost 60,800 positions in February, reflecting declines in nonresidential specialty trade… Read More ›
Job openings in construction declined in December as hiring slowed, albeit with distinctions between residential and nonresidential construction. As detailed in the January employment report, there were 2,500 lost total construction sector jobs for the start of the year. Nonetheless, for home building and remodeling, sector employment is 27,600 positions higher than a year prior. Overall, hiring in the construction… Read More ›
Total payroll employment rose by 49,000 and the unemployment rate fell to 6.3% for the month. The labor market continues its slow recovery amid the COVID-19 pandemic. In January, residential construction employment remained virtually unchanged (-600), after increasing for eight straight months. Meanwhile, non-residential construction lost 1,900 positions, after four consecutive months of gain. Currently, job gains in residential construction… Read More ›
After seven consecutive months’ job gains, nonfarm payroll employment fell by 140,000 in December as virus cases surged. The unemployment rate was unchanged at 6.7% in December. Total construction industry (both residential and non-residential) employment totaled 7.4 million in December. Residential construction employment rose by 22,700 in December to 3.0 million. In the past eight months, residential construction added 472,500… Read More ›