Tag Archive for ‘labor force’

Strong Job Gains in September

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 ›

Unemployment Rises to 3.8% in August

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 ›

Modest Job Gains in July

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 ›

U.S. Adds 209,000 Jobs in June

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 ›

U.S. Adds 339,000 Jobs in May

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 ›

Solid Job Growth in April

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 Gains Slow in March

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 ›

Construction Self-Employment Rises Post Pandemic

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 Gains Continue in February Amid Mixed Signals

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 ›