Eye On Housing
The count of open, unfilled jobs for the overall economy declined slightly in January, falling to 10.8 million, after an 11.2 million reading in December, which was the highest level since July. The count of total job openings should fall in 2023 as the labor market softens and the unemployment rises. From an inflation perspective, ideally the count of open,… Read More ›
The count of open, unfilled jobs for the overall economy increased in December, rising to 11 million, the highest level since July. This was a surprise rise, as noted by many analysts, particularly given a growing chorus of corporate hiring freezes and job cuts. For now, the December data appears to be more noise than signal, although certainly that conclusion… Read More ›
The count of open, unfilled jobs for the overall economy declined slightly in November, falling from 10.51 million open positions to 10.46 million. This represents a decrease from a year ago (10.92 million), a sign the labor market is slowing in response to tighter monetary policy. The degree of this slowing will be critical for the ongoing downshift in the… Read More ›
The count of open, unfilled jobs for the overall economy declined in October, falling from 10.7 million open positions to 10.3 million. This represents a small decrease from a year ago (11.1 million), a sign the labor market is slowing in response to tighter monetary policy. The degree of this slowing will be critical for a potential downshift in the… Read More ›
The count of open, unfilled jobs for the overall economy increased in September, rising from 10.3 million open positions to 10.71 million. This represents a small increase from a year ago (10.67 million). This increase occurs despite signs of a slowing economy amidst aggressive monetary policy tightening by the Fed. The hotter than expected labor market data pushed the 10-year… Read More ›
The count of open, unfilled jobs for the overall economy fell 10% in August, declining from almost 11.2 million to 10.05 million. The decline for open jobs reflects the beginnings of a labor market retreat as the economy slows due to aggressive tightening of monetary policy by the Fed. While the economy continues to face a critical skilled labor shortage,… Read More ›
The construction labor market is cooling off as economic activity slows in response to tighter monetary policy. However, the July data shows stability concerning the number of open, unfilled jobs in the construction industry. This trend will likely weaken during the second half of 2022 due to the policy decisions by the Federal Reserve. The count of open construction jobs… Read More ›
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 and payroll employment growth is… Read More ›
The construction labor market remains tight, but the total number of open construction sector jobs has likely reached a cyclical peak as economic activity slows in response to tighter financial conditions. The count of open construction jobs was little changed in May, falling from 440,000 in April to 434,000. The April reading remains the highest measure in the history of… Read More ›
The construction labor market remains tight, as the industry sees a rising number of job openings year-over-year. The count of open construction jobs jumped to 449,000 unfilled positions in April. This is the highest measure in the history of the data series (going back to late 2000). The housing market remains underbuilt and requires additional labor, lots and lumber and… Read More ›