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  • Fri, October 04, 2019 12:11 PM | Anonymous member (Administrator)

    The just sworn in U.S. Secretary of Labor, Eugene Scalia, was greeted with good news as the Department reported job growth expanded 136,000 for the month of September; this on the heels of a 38K upward revision to August figures. (September was just above the generally accepted approximately 130-150,000 new jobs per month to absorb the expanding workforce).  Non-seasonally adjusted figures for construction showed unemployment moved down to only 3.2 percent [or minus 0.4 basis point from August, vs. being down 0.9 basis points from a year ago in September 2018 when it stood at 4.1%].  During the month, the construction industry employment remained steady, while unemployment slipped to 319,000.

    The new unemployment figure of 3.5 percent hit a 50-year low not seen since 1969.  (“Unemployed persons” dropped to 5.8 million per the government count).  The “labor force participation” rate actually remained at 63.2 percent. [NOTE: The “labor force participation” rate works inversely to the overall unemployment figures. Meaning: as it deteriorates/gets worse or smaller, it actually is counted as improving unemployment (i.e., people leaving the workforce are no longer viewed/counted as unemployed by the DOL)].  The “employment to population ratio” however improved one-tenth to 61.0 percent. The average hourly earnings for employees improved/increased at just under three percent or up 2.9% (over a 12-month rolling basis).

    See the Workforce Statistics here.

  • Fri, September 06, 2019 11:59 AM | Anonymous member (Administrator)

    The Department of Labor reported new jobs growth expanded at 130,000 in July. (Just at the generally accepted approximately 130-150,000 new jobs per month to absorb the expanding workforce).  Non-seasonally adjusted figures for construction showed unemployment moved down to 3.6 percent [or minus 0.2 basis point from July, vs. being up 0.2 basis points from a year ago in August 2018 when it stood at 3.4%].  During the month, the construction industry employment remained steady.

    Overall unemployment remained at 3.7 percent again bucking the labor force participation drag.  (“Unemployed persons” dropped one-tenth to 6.0 million per the government count).  The “labor force participation” rate actually improved two-tenth to 63.2 percent. [NOTE: The “labor force participation” rate works inversely to the overall unemployment figures, meaning: as it deteriorates/gets worse or smaller, it actually is counted as improving unemployment (i.e., people leaving the workforce are no longer viewed/counted as unemployed by the DOL)].  The “employment to population ratio” also improved two-tenth as well to 60.9 percent. The average hourly earnings for employees remained up 3.2% (over the past 12-months).

    See the Workforce Statistics here.

  • Fri, August 02, 2019 9:34 AM | Anonymous member (Administrator)

    Today, the Department of Labor reported new jobs growth expanded at 164,000 in July. (This was slightly above the generally accepted approximately 130-150,000 new jobs per month just to absorb the expanding workforce).  Non-seasonally adjusted figures for construction showed unemployment move down to 3.8 percent [or minus 0.2 basis point from June, while actually up 0.4 basis points from a year ago in July 2018 when it stood at 3.4%].  During the month, the construction industry remained approximately even for total employment rolls.

    Overall unemployment remained at 3.7 percent bucking the labor force participation drag.  (“Unemployed persons” added one-tenth to 6.1 million per the government count).  As noted, the “labor force participation” rate improved one-tenth to 63.0 percent. [NOTE: The “labor force participation” rate works inversely to the overall unemployment figures, meaning: as it deteriorates/gets worse or smaller, it actually is counted as improving unemployment (i.e., people leaving the workforce are no longer viewed/counted as unemployed by the DOL)].  The “employment to population ratio” improved one-tenth as well to 60.7 percent. The average hourly earnings for employees has continued to increase in 2019, up for the year to 3.2%.

    Workforce Statistics Table

  • Mon, July 08, 2019 9:36 AM | Anonymous member (Administrator)

    The Department of Labor reported new jobs growth expanding an unexpected 224,000 in June.  (Well above the generally accepted approximately 130-150,000 new jobs per month just to absorb the expanding workforce).  Non-seasonally adjusted figures for construction showed unemployment move back up to 4.0 percent [up 0.8 basis point from May, vs. lower by 0.7 basis points than a year ago in June 2018 when it stood at 4.7%].  Notwithstanding, the construction industry has added another 21,000 employees to its rolls in June.

    Overall unemployment ticked-up one-tenth percent to 3.7 percent.  (As a result “unemployed persons” also added one-tenth to 6.0 million per the government count).  Meanwhile, the “labor force participation” rate improved one-tenth to 62.9 percent. [NOTE: The “labor force participation” rate works inversely to the overall unemployment figures, meaning: as it deteriorates, it actually is counted as improving unemployment (i.e., people leaving the workforce are no longer viewed/counted as unemployed by the DOL)].  The “employment to population ratio” remained the same at 60.6 percent. The average hourly earnings for employees has continued to increase in 2019, up for the year 3.1%.

    Workforce Table Stats


  • Wed, June 12, 2019 9:50 AM | Anonymous member (Administrator)

    The Department of Labor reported employment numbers that again matched or exceeded levels not seen in fifty years, with new jobs growth expanding another 75,000 in May.  (While below the generally accepted of approximately 130-150,000 new jobs per month just to absorb the expanding workforce, it may indicate a near “full-employment” economy).  Non-seasonally adjusted figures for construction showed unemployment tumbling to below the overall average at only 3.2 percent [down a dramatic 1.5 basis point from March and a “solid” 1.2 basis points lower than a year ago in May 2018 when it stood at 4.4%]. The construction industry has added another 4,000 employees to its rolls in May.

    Overall unemployment dropped remained at a fifty year low of 3.6 percent.  (As a result “unemployed persons” was steady at 5.9 million per the government count).  The “labor force participation” rate continued was constant at 62.8 percent. [NOTE: The “labor force participation” rate works inversely to the overall unemployment figures, meaning: as it deteriorates, it actually is counted as improving unemployment (i.e., people leaving the workforce are no longer viewed/counted as unemployed by the DOL)].  The “employment to population ratio” also remained the same at 60.6 percent. The average hourly earnings for employees has continued to increase in 2019, up for the year 3.1%.

    Workforce Statistics Chart here


  • Fri, May 03, 2019 11:08 AM | Anonymous member (Administrator)

    The latest Department of Labor employment numbers appear to have matched or exceeded levels not seen in fifty years, with new jobs growth expanding another 263,000 in April.  (It is generally accepted that it takes approximately 130-150,000 new jobs per month just to absorb the expanding workforce).  Non-seasonally adjusted figures for construction showed unemployment slipping to only 4.7 percent [down 0.5 basis point from March and a “hefty” 1.8 basis points lower than a year ago in April 2018 when it stood at 6.5%]. The construction industry has added another 33,000 employees to its rolls in April alone.

    Overall unemployment dropped two-tenths to a fifty year low of 3.6 percent.  (As a result “unemployed persons” also slide to 5.8 million per the government count).  The “labor force participation” rate continued to slip downwards to 62.8 percent. [NOTE: The “labor force participation” rate works inversely to the overall unemployment figures, meaning: as it deteriorates, it actually is counted as improving unemployment (i.e., people leaving the workforce are no longer viewed/counted as unemployed by the DOL)].  The “employment to population ratio” stayed constant at 60.6 percent. The average hourly earnings for employees has continued to increase in 2019, up for the year 3.2%.

    See the latest 2019 Workforce Statistics here.

  • Fri, April 26, 2019 2:24 PM | Anonymous member (Administrator)

    Real gross domestic product (GDP) increased at an annual rate of 3.2 percent in the first quarter of 2019, according to the "advance" estimate released by the Bureau of Economic Analysis. In the fourth quarter of 2018, real GDP increased 2.2 percent. The Bureau’s first-quarter advance estimate released on Friday (4/26/19) is based on source data that are incomplete or subject to further revision by the source agency. The "second" estimate for the first quarter, based on more complete data, will be released on May 30, 2019.


  • Fri, April 05, 2019 2:30 PM | Anonymous member (Administrator)

    The latest Department of Labor employment numbers appear to have rebounded from February’s increase, improving with an unexpected 196,000 new jobs.  (It is generally accepted that it takes approximately 130-150,000 new jobs per month just to absorb the expanding workforce).  Non-seasonally adjusted figures for construction showed unemployment slipping to 5.2 percent [down 1.0 full basis point from February and a “huge” 2.2 basis points lower than a year ago in March 2018 when it stood at 7.4%]. The construction industry has added a net 38,000 employees to its rolls since the beginning of the year.

    Overall unemployment stayed constant at 3.8 percent.  (As a result “unemployed persons” also stayed the same at 6.2 million per the government count).  However, the “labor force participation” rate slide downwards to 63.0 percent. [NOTE: The “labor force participation” rate works inversely to the overall unemployment figures, meaning: as it deteriorates, it actually is counted as improving unemployment (i.e., people leaving the workforce are no longer viewed/counted as unemployed by the DOL)].  The “employment to population ratio” also fell but only one tenth basis points to 60.6 percent. The average hourly earnings for employees has continued to increase in 2019, up already for the year 3.2%.

    SEE the 2019 Construction Employment/Unemployment vs. Overall Unemployment Statistics

  • Fri, March 08, 2019 3:10 PM | Anonymous member (Administrator)

    The latest Department of Labor employment numbers seem to suggest the nation may have reached full-employment levels.  February’s increase was only 20,000 new jobs (on the heels of a robust 304,000 in January), but the unemployment number dropped.  (It is generally accepted that it takes approximately 130-150,000 new jobs per month just to absorb the expanding workforce).  According to the National Federation of Independent Business, small business job creation broke a 45-year record in February. Non-seasonally adjusted figures for construction showed unemployment at 6.2 percent [down 0.2 basis points from January and a “whopping” 1.6 basis points lower than a year ago in February 2018 when it stood at 7.8%]. The construction industry has added a net 22,000 employees to its rolls since the beginning of the year.

    Overall unemployment moved-down 0.2 basis points to 3.8 percent.  (As a result “unemployed persons” dropped a substantial 300,000 to 6.2 million per the government count).  The “labor force participation” rate remained constant at 63.2 percent; suggesting people are coming “off the sidelines” to rejoin the workforce. [NOTE: The “labor force participation” rate works inversely to the overall unemployment figures, meaning: as it deteriorates, it actually is counted as improving unemployment (i.e., people leaving the workforce are no longer viewed/counted as unemployed by the DOL)].  The “employment to population ratio” also remained steady at 60.7 percent. The average hourly earnings for employees has continued to increase in 2019, up some 3.4% already.

    The Workforce Statistics Table can be found here.

  • Thu, February 28, 2019 12:15 PM | Anonymous member (Administrator)

    The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today: Real gross domestic product (GDP) increased 2.6 percent in the fourth quarter of 2018, according to the “initial” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 3.4 percent.

    The White House Council of Economic Advisers pointed out that America’s economy achieved 3 percent growth for the first time in 13 years in 2018 with the results of the 4th/Qtr. GDP numbers. Its Chairman, Kevin Hassett (who has spoken to the CIRT members at our conferences), made this 3% growth prediction “in the heat of the 2017 tax reform debate and was ridiculed by progressive economists . . . But the evidence of the last two years is that deregulation and tax reform spurred private capital investment exactly when a long-in-the-tooth expansion needed it to avoid recession.”

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