Slightly Positive Employment Numbers

 

On a more positive note, total construction jobs, which include non-residential employment, rose 19,000 in August, the first monthly increase since April. Hopefully this will translate into more opportunities downthe road for landscape professionals.
Courtesy of Construction Safety Central.com

Recent employment figures indicate that there still are signs of life in the U.S. economy’s recovery. August Employment Situation report by Bureau of Labor Statistics confirmed that the U.S. economy is on the mend, albeit slowly.

Indeed, total nonfarm payroll employment was down 54,000, a figure dominated by the loss of 114,000 temporary Census Bureau workers who have completed their work on the decennial census.

But at the same time the public sector was reducing its temporary work force, the private sector added 67,000 workers in August, the eighth consecutive monthly increase. Further, July’s private sector increase was revised up 36,000 jobs to 107,000, as was the June increase, from 31,000 initially to 61,000. The overall unemployment rate for construction rose to 22.5 percent, up from 20.7 percent in July.

Employment stability and job growth — keys to housing’s recovery — are needed to help boost the confidence of households that are considering buying or renting a home. NAHB continues to forecast slow employment gains for the remainder of the year as economic activity shows modest growth.

With home builders in a holding pattern due to weak housing demand, residential construction jobs fell 9,800 in August, following the loss of 15,400 jobs the month before and the 21,400 jobs lost in August a year ago. The continued decline corresponds with the slowing of single-family housing starts, down for the third consecutive month, and July’s sharp drop in housing completions.

– Courtesy of NAHB