Real gross domestic product (GDP) increased at an annual rate of 2.1 percent in the fourth quarter of 2019 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 2.1 percent. The GDP estimate released today is based on source data that are incomplete or subject to further revision by the source agency (see “Source Data for the Advance Estimate” on page 3). The "second" estimate for the fourth quarter, based on more complete data, will be released on February 27, 2020.

The latest Labor Department job numbers reconfirmed a strong finish to 2019, with an increase of 145,000 for the month of December. (A level at the generally accepted range of approximately 130-150,000 new jobs per month to absorb the expanding workforce).  Non-seasonally adjusted figures for construction showed unemployment moved up to 5.0 percent with the onset of winter [an increase of 0.6 basis point from November, BUT down 0.1 basis point from a year ago in December 2018 when it stood at 5.1%].  During 2019, employment in the construction industry expanded by 151,000 positions.

The overall unemployment figure remained at 3.5 percent, or at record 50-year lows.  (“Unemployed persons” went stayed at 5.8 million per the government count).  The “labor force participation” rate also remained steady 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” stayed the same at 61.0 percent.  Average hourly earnings for employees improved/increased at 2.9% (over the last 12-months).

SEE Workforce Statistics.

The latest Labor Department job numbers showed a significant increase of 266,000 for the month of November. (A level well above the generally accepted range of approximately 130-150,000 new jobs per month to absorb the expanding workforce).  Non-seasonally adjusted figures for construction showed unemployment moved up to 4.4 percent with the onset of colder weather [an increase of 0.4 basis point from October, as well as being up 0.5 basis points from a year ago in November 2018 when it stood at 3.9%].  During the month, the construction industry employment remained steady, while unemployment ticked-up to 428,000.

The new unemployment figure of 3.5 percent pushed record 50-year lows.  (“Unemployed persons” went down one-tenth to 5.8 million per the government count).  The “labor force participation” rate also slipped one-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” stayed the same at 61.0 percent.  Average hourly earnings for employees improved/increased at 3.1% (over the last 12-months).

SEE Workforce Statistics Table here.

Today, the Labor Department reported total number of jobs increased 128,000 for the month of October. (This just about hit the generally accepted range of approximately 130-150,000 new jobs per month to absorb the expanding workforce).  Non-seasonally adjusted figures for construction showed unemployment moved up to 4.0 percent with the start of cooler weather [an increase of 0.8 basis point from September, but also up 0.4 basis points from a year ago in October 2018 when it stood at 3.6%].  During the month, the construction industry employment remained steady, while unemployment ticked-up to 398,000.

The new unemployment figure of 3.6 percent stayed at near a 50-year low.  (“Unemployed persons” went up one-tenth to 5.9 million per the government count).  The “labor force participation” rate actually improved one-tenth to 63.3 percent. [HOWEVER 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” stayed the same at 61.0 percent.  Average hourly earnings for employees improved/increased at 3.0% (over the last 12-months).

See the Workforce Statistics here.

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.

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.

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

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

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

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.