Tag Archives: BLS

People gifted with remote work overwhelmingly chose to migrate to the Sun Belt, resulting in higher housing costs, which weigh on inflation figures.

There appears to be a bit of bounce in the step of economic activity in the U.S. as total nonfarm payroll employment spiked by 638,000 in October, coupled by a 6.9% drop in the unemployment rate, according to the U.S. ...

Job openings—and construction jobs, in particular—are up, and so are hires. So why did one expert call today's job report a "disappointment?"

The industry may be experiencing some déjà vu from the average monthly job gains for July through September from the same period last year as the latest BLS Employment Summary contains news that is both positive and negative for the housing market.

The labor market was the strong point of the U.S. economy in the last quarter of 2015. Job gains slowed in the first month of 2016, but other areas saw growth.

The outlook for the annual growth rate of the U.S. gross domestic product (GDP) for the next two years looks somewhat softer compared to what it was three months ago, according to a survey of 45 forecasters conducted by the Philadelphia Fed.

“As disappointing as last month’s jobs report was, this one more than makes up for it,” said Curt Long, Chief Economist of the National Associations of Federal Credit Unions (NAFCU). “Job gains surged past analysts’ expectations, while the unemployment rate dropped even as 300,000 workers joined the labor force. Meanwhile, year-over-year wage growth hit its highest mark since mid-2009. Barring catastrophe, everything looks set for the Fed to raise rates in December.”

According to numbers from the Labor Department, employers added 288,000 jobs last month, soaring above economists' consensus forecast of 211,000 new jobs. Meanwhile, payroll additions for April and May were revised up to 304,000 and 224,000, respectively, bringing gains in those months up 29,000 higher than previously reported.