Employment/Labor includes blogs about job openings, employment rates, residential construction wages, demographics in construction etc.
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…
Residential building workers’ wage growth accelerated to 9.0% in June. This marks the fastest year-over-year (YOY) growth rate since December 2018. After a 0.3% increase in June 2023, the YOY growth rate for residential building worker wages have been trending upward over the past year….
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…
Due to slowing home construction and elevated interest rates, the count of open construction sector jobs shifted lower in June, per the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS). However, this shift lower is consistent with a somewhat cooler labor market, which…
Due to tightened monetary policy, the count of open construction sector jobs shifted lower in the early Spring but is now stabilizing, per the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS). This shift lower is consistent with a somewhat cooler labor…
