Eye On Housing
The count of unfilled jobs in the construction sector increased in January, nearing a post-recession high set in July of 2017. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs increased to 250,000 at the start of the year. The post-recession high count of open, unfilled construction jobs… Read More ›
From the trough of the housing downturn in 2010 through 2015, the number of homes under construction increased by 131 percent and the number of employees working in construction trade businesses increased by 18 percent. Over that span, how much would you guess the number of one-person construction trade firms increased? The answer, believe it or not, is not at all. … Read More ›
The monthly NAHB/Wells Fargo Housing Market Index includes a set of “special” questions on a topic of current interest to the housing industry. In December 2017, the special questions asked builders about the problems they faced in 2017 and expect to face in 2018. Topping the list of problems builders faced in 2017 and expect to face in 2018 is… Read More ›
The count of unfilled jobs in the construction sector continued to rise in August, reaching the highest level since February 2007. Given the significant need for repair and restoration work in the wake of Hurricanes Harvey and Irma, we can expect additional increases in the months ahead. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number… Read More ›
Labor and subcontractor shortages have become even more widespread in July of 2017 than they were in June of 2016, according to single-family builders responding to special questions on the NAHB/Wells Fargo Housing Market Index (HMI) survey. The July 2017 HMI survey asked builders about shortages in 15 specific occupations that were either recommended by Home Builders Institute (NAHB’s workforce development arm)… Read More ›
The count of unfilled jobs in the construction sector increasing significantly in June, after falling in May. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a seasonally adjusted basis) increased to 225,000 in June. The cycle high was 238,000, set in July of last year. The June count is the highest since… Read More ›
The count of unfilled jobs in the construction sector declined in May, falling to level below that recorded a year ago. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a seasonally adjusted basis) stood at 154,000 in May. The cycle high was 238,000, set in July of last year. The open position rate… Read More ›
The count of unfilled jobs in the construction sector climbed in April, rising to the highest level since September of last year. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs (on a seasonally adjusted basis) stood at 203,000 in April. The cycle high was 238,000, set in July of last year. The open position rate (job… Read More ›
The BLS released the Employment Situation report for April. Payroll employment rebounded, adding 211 thousand, after an unexpectedly soft March, a gain of only 79 thousand. Monthly gains have averaged 185 thousand in the first four months of 2017 compared to 187 thousand in all of 2016. The unemployment rate slipped to 4.4% based on a gain of 156 thousand employed… Read More ›
Unusually warm weather in January and February may have accelerated hiring in those months at the expense of additions to March payroll gains. The Bureau of Labor Statistics (BLS) reports that severe weather (e.g., the mid-March snow storms in the Midwest and Northeast) is more likely to reduce hours worked than workers on payrolls, but that “it is not possible… Read More ›