Eye On Housing
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 ›
The Bureau of Labor Statistics (BLS) released its Employment Situation report for February. Nonfarm payrolls expanded by 235 thousand and the prior two months were revised a net 9 thousand higher. The unemployment rate edged lower to 4.7%, based on a strong gain in employed persons (447 thousand) that outpaced a strong gain in the labor force (340 thousand), from… Read More ›
The Bureau of Labor Statistics (BLS) released its Employment Situation report for January including the standard annual revisions to earlier years. The revisions include benchmarking payroll employment counts to reflect more comprehensive counts, affecting data from April 2015 forward, and updated seasonal adjustment factors, affecting data from January 2012 forward. Historical data from the household survey is not revised but… Read More ›
The Bureau of Labor Statistics (BLS) reported payroll employment rose by 156 thousand in December and revisions to estimates for the prior two months were mixed but added a net 19 thousand. The unemployment rate rose to 4.7% from 4.6% in November, an increase that barely escaped rounding error magnitude. Average hourly earnings rose 2.9% over the year. A broader… Read More ›