Eye On Housing
Job growth decelerated in October. Total nonfarm payroll employment increased by 150,000 and the unemployment rate edged up to 3.9% in October from 3.8%. The labor market is cooling. The Fed held interest rates steady for the second meeting in a row at the conclusion of its November meeting. This month’s employment data will be one of the key components… Read More ›
Job growth remained solid in September as the Fed fights against inflation. In fact, the recent jobs data has been stronger than most economists expected and is a reminder that GDP growth for the third quarter will be very strong and inflation risks persist. Total nonfarm payroll employment increased by 336,000 and the unemployment rate remained at 3.8% in September…. Read More ›
The recent employment data indicates that the labor market is cooling gradually due to rising interest rates. Total employment increased by 187,000 and the unemployment rate rose to 3.8% from 3.5%. Wage growth slowed. In August, wages grew at a 4.3% year-over-year growth rate, down 1.1 percentage points from a 5.4% gain in August 2022. The Bureau of Labor Statistics… Read More ›
The past two months’ job gains indicate that the job market is cooling from its peak last year and is growing at a moderate pace. Total employment increased by 187,000 and the unemployment rate inched down to 3.5% in July. Wages grew at a 4.4% year-over-year growth rate, down 1.1 percentage points from a 5.4% gain in July 2022. Total… Read More ›
Job gains slowed in June, but the labor market remained solid. Total payroll employment rose by 209,000 and the unemployment rate decreased to 3.6%. In June, wages grew at a 4.4% year-over-year growth rate, down 1.1 percentage points from a 5.5% gain in May 2022. Total nonfarm payroll employment increased by 209,000 in June, following a gain of 306,000 in… Read More ›
Job growth accelerated in May. Total payroll employment rose by 339,000 and the unemployment rate rose to 3.7%. While labor demand remained strong, wage pressures eased from a year ago. In May, wage growth slowed to a 4.3% year-over-year gain, from 4.4% last month, and down 1.6 percentage points from a 5.9% gain in March 2022. Total nonfarm payroll employment… Read More ›
Job gains continued in April, despite rising interest rates and a slowing economy. After a revised 165,000 job gain in March, total nonfarm payroll employment increased by 253,000 in April, and the unemployment rate declined to 3.4% from 3.5% in March. In April, on a year-over-year basis, wage growth increased slightly to 4.4% from 4.3% last month, but down compared… Read More ›
Job growth slowed in March, along with higher interest rates and increased economic uncertainty. After a revised 326,000 job gain in February, total nonfarm payroll employment increased by 236,000 in March, and the unemployment rate declined to 3.5% from 3.6% in February. Average hourly earnings have increased by 4.2% on a year-over-year basis. It marks the lowest wage gain since… Read More ›
According to the 2021 American Community Survey (ACS), 23% (or close to 2.5 million) of workers employed in construction are self-employed. This is a whole percentage point higher than the share of self employed in construction in 2019, before the pandemic rattled the labor market. Even though the Covid-19 pandemic boosted self-employment across all industries, construction self-employment rates remain significantly… Read More ›
Job growth continued in February. After a revised 504,000 job gain in January, total nonfarm payroll employment increased by 311,000 in February, and the unemployment rate edged up to 3.6% from 3.4% in January. Wage growth increased to a 4.6% year-over-year gain from 4.4% last month, but down compared to February 2022. Today’s job report indicates that, overall, the labor… Read More ›