Due to slowing home construction and elevated interest rates, the count of open construction sector jobs continued to decline in July, per the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS). However, this shift lower is also consistent with a cooler overall labor…
Analysis of the history of data from the American Community Survey (ACS) reveals dramatic shifts in the makeup of the construction labor force over the last two decades. While the overall count of workers in the industry now approaches the historic highs of the housing…
The labor market may not be as strong as previously estimated, according to the Bureau of Labor Statistics’ preliminary estimate of the upcoming annual benchmark revision to the establishment survey employment series. Each year, the Current Employment Statistics (CES) survey employment estimates are benchmarked to…
Nonfarm payroll employment increased in 28 states in July compared to the previous month, while 22 states saw a decrease. The District of Columbia reported no change. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 114,000 in July, following…
In July, job growth decelerated significantly, and the unemployment rate increased to a nearly three-year high of 4.3%. The July data indicates that the labor market is slowing, which signals monetary policy easing in the months ahead. Additionally, wage growth slowed for the second month…
Nonfarm payroll employment increased in 41 states and the District of Columbia in May compared to the previous month, while nine states saw a decrease. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 272,000 in May, following a gain…
Despite high interest rates, job growth accelerated in May, but the unemployment rate increased to 4.0%. Overall, the labor market remains strong, but there are signs of slowing, which signals monetary policy easing in the months ahead. Additionally, wage growth accelerated for the first time…
