Employment Situation in October: State-Level Analysis

2022-11-22T08:16:53-06:00

Nonfarm payroll employment increased in 42 states in October compared to the previous month while eight states and the District of Columbia lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 261,000 in October, following a gain of 315,000 jobs in September. On a month-over-month basis, employment data was strong in California, which added 56,700 jobs, followed by Texas (+49,500), and Florida (+36,400). Eight states lost a total of 26,400 jobs.  In percentage terms, employment in Hawaii increased by 0.8% while Wyoming reported a 0.4% decline between September and October. Year-over-year ending in October, 5.3 million jobs have been recovered, marking a full recovery of the labor market from the COVID-19 pandemic induced recession. All the states and District of Columbia added jobs compared to a year ago. The range of job gains spanned 695,500 jobs in California to 100 jobs added in Mississippi. In percentage terms, Texas reported the highest increase by 5.4%, while Mississippi was essentially unchanged (0.0%) compared to a year ago. Across the 48 states which reported construction sector jobs data—which includes both residential as well as non-residential construction— 25 states reported an increase in October compared to September, while 19 lost construction sector jobs. Four states, Alaska, Minnesota, Montana, and Rhode Island reported no change. New York added 4,500 construction jobs while Pennsylvania lost 3,500 jobs. Overall, the construction industry added a net 1,000 jobs in October compared to the previous month. In percentage terms, North Dakota increased by 2.0% while Louisiana reported a decline of 2.7% between September and October. Year-over-year, construction sector jobs in the U.S. increased by 266,000, which is a 3.6% increase compared to the October 2021 level. Texas added 41,600 jobs, which was the largest gain of any state, while Louisiana lost 9,000 construction sector jobs. In percentage terms, North Dakota had the highest annual growth rate in the construction sector by 20.8%. Over this period, Louisiana reported a decline of 6.8%. Related ‹ Gain for Custom Home BuildingNew Single-Family Home Size Trending Lower ›Tags: construction labor, economics, state and local markets, state employment

Employment Situation in October: State-Level Analysis2022-11-22T08:16:53-06:00

Single-Family Permits Decline in September 2022

2022-11-15T09:18:27-06:00

Over the first nine months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 800,424. On a year-over-year (YoY) basis, this is 7.4% below the September 2021 level of 864,184. Year-to-date ending in September, single-family permits declined in all four regions. The South posted a modest decline of 5.4%, while the Midwest region reported the steepest decline of 11.0%. The Northeast declined by 8.6% and the Western region reported an 10.0% decline in single-family permits during this time. On the other hand, multifamily permits posted increased in all four regions. Permits were 24.4% higher in the South, 22.5% higher in the Midwest, 11.3% higher in the West, and 6.0% higher in the Northeast. Between September 2021 YTD and September 2022 YTD, seven states saw growth in single-family permits issued. New Mexico recorded the highest growth rate during this time at 35.2% going from 4,432 permits to 5,993. Forty-three states and the District of Columbia reported a decline in single-family permits during this time with the District of Columbia posting the steepest decline of 36.9% declining from 328 permits to 207. The ten states issuing the highest number of single-family permits combined accounted for 63.7% of the total single-family permits issued. Year-to-date, ending in September, the total number of multifamily permits issued nationwide reached 516,955. This is 17.8% ahead of the September 2021 level of 438,700. Between September 2021 YTD and September 2022 YTD, 41 states and the District of Columbia recorded growth, while nine states recorded a decline in multifamily permits. Georgia led the way with a sharp rise (159.9%) in multifamily permits from 8,375 to 21,766 while Delaware had the largest decline of 75.1% from 962 to 240. The ten states issuing the highest number of multifamily permits combined accounted for 63.5% of the multifamily permits issued. At the local level, below are the top ten metro areas that issued the highest number of single-family permits. Metropolitan Statistical Area Single-Family Permits: Sep-22 (Units #YTD, NSA) Houston-The Woodlands-Sugar Land, TX                                                                                          39,590 Dallas-Fort Worth-Arlington, TX                                                                                          36,445 Phoenix-Mesa-Scottsdale, AZ                                                                                          23,399 Atlanta-Sandy Springs-Roswell, GA                                                                                          21,743 Austin-Round Rock, TX                                                                                          18,320 Charlotte-Concord-Gastonia, NC-SC                                                                                          15,496 Orlando-Kissimmee-Sanford, FL                                                                                          13,017 Nashville-Davidson–Murfreesboro–Franklin, TN                                                                                          12,781 Tampa-St. Petersburg-Clearwater, FL                                                                                          12,639 Jacksonville, FL                                                                                          11,395 For multifamily permits, below are the top ten local areas that issued the highest number of permits.  Metropolitan Statistical Area  Multifamily Permits: Sep-22 (Units #YTD, NSA) New York-Newark-Jersey City, NY-NJ-PA                                                                                        38,978 Dallas-Fort Worth-Arlington, TX                                                                                        24,071 Houston-The Woodlands-Sugar Land, TX                                                                                        21,070 Austin-Round Rock, TX                                                                                        18,682 Los Angeles-Long Beach-Anaheim, CA                                                                                        16,008 Washington-Arlington-Alexandria, DC-VA-MD-WV                                                                                        15,484 Seattle-Tacoma-Bellevue, WA                                                                                        15,208 Atlanta-Sandy Springs-Roswell, GA                                                                                        14,831 Phoenix-Mesa-Scottsdale, AZ                                                                                        13,816 Minneapolis-St. Paul-Bloomington, MN-WI                                                                                        12,617   Related ‹ Patios Continue to Substitute for Decks on New HomesTags: home building, multifamily, single-family, state and local markets, state permits

Single-Family Permits Decline in September 20222022-11-15T09:18:27-06:00

Employment Situation in September: State-Level Analysis

2022-10-24T09:18:02-05:00

Nonfarm payroll employment increased in 44 states and the District of Columbia in September compared to the previous month while six states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 263,000 in September, following a gain of 315,000 jobs in August. On a month-over-month basis, employment data was strong in Florida, which added 48,800 jobs, followed by Texas (+40,000), and North Carolina (+17,400). Six states lost a total of 18,300 jobs.  In percentage terms, employment in New Hampshire and Kentucky each increased by 0.8% while Delaware reported a 0.6% decline between August and September. Year-over-year ending in September, 5.7 million jobs have been recovered, marking a full recovery of the labor market from the COVID-19 pandemic induced recession. All the states and District of Columbia added jobs compared to a year ago. The range of job gains spanned 721,800 jobs in Texas to 6,600 jobs added in Alaska. In percentage terms, Texas reported the highest increase by 5.6%, while Mississippi increased by 1.2% compared to a year ago. Across the 48 states which reported construction sector jobs data—which includes both residential as well as non-residential construction— 30 states reported an increase in September compared to August, while 15 lost construction sector jobs. New Hampshire, Oregon, and Rhode Island reported no change. Florida added 6,900 construction jobs while New Jersey lost 2,700 jobs. Overall, the construction industry added a net 19,000 jobs in September compared to the previous month. In percentage terms, North Dakota increased by 4.6% while Alabama reported a decline of 2.4% between August and September. Year-over-year, construction sector jobs in the U.S. increased by 292,000, which is a 3.9% increase compared to the September 2021 level. California added 44,500 jobs, which was the largest gain of any state, while New Jersey lost 3,800 construction sector jobs. In percentage terms, North Dakota had the highest annual growth rate in the construction sector by 19.2%. Over this period, South Carolina reported a decline of 2.8%. Related ‹ Spec Square Foot Prices Skyrocket in 2021Prospect of Higher Rates Leads Some to Consider Buying a Home ›Tags: construction labor, economics, state and local markets, state employment

Employment Situation in September: State-Level Analysis2022-10-24T09:18:02-05:00

Single-Family Permits Decline in August 2022

2022-10-17T09:21:37-05:00

Over the first eight months of 2022, the total number of single-family permits issued year-to-date (YTD) nationwide reached 728,866. On a year-over-year (YoY) basis, this is 6.0% below the August 2021 level of 775,772. Year-to-date ending in August, single-family permits declined in all four regions. The South posted a modest decline of 3.9%, while the Midwest region reported the steepest decline of 10.6%. The Northeast declined by 9.8% and the Western region reported an 8.0% decline in single-family permits during this time. On the other hand, multifamily permits posted increased in all four regions. Permits were 24.4% higher in the Midwest, 22.5% higher in the South, 9.6% higher in the West, and 3.8% higher in the Northeast. Between August 2021 YTD and August 2022 YTD, eight states saw growth in single-family permits issued. New Mexico recorded the highest growth rate during this time at 37.1% going from 3,961 permits to 5,431. Forty-two states and the District of Columbia reported a decline in single-family permits during this time with the District of Columbia posting the steepest decline of 25.4% declining from 268 permits to 200. The ten states issuing the highest number of single-family permits combined accounted for 63.9% of the total single-family permits issued. Year-to-date, ending in August, the total number of multifamily permits issued nationwide reached 456,244. This is 16.4% ahead of the August 2021 level of 392,067. Between August 2021 YTD and August 2022 YTD, 39 states and the District of Columbia recorded growth, while 11 states recorded a decline in multifamily permits. Hawaii led the way with a sharp rise (187.8%) in multifamily permits from 320 to 921 while Delaware had the largest decline of 76.3% from 928 to 220. The ten states issuing the highest number of multifamily permits combined accounted for 63.6% of the multifamily permits issued. At the local level, below are the top ten metro areas that issued the highest number of single-family permits. Metropolitan Statistical Area Single-Family Permits: Aug-22 (Units #YTD, NSA) Houston-The Woodlands-Sugar Land, TX                                                                                          35,973 Dallas-Fort Worth-Arlington, TX                                                                                          33,435 Phoenix-Mesa-Scottsdale, AZ                                                                                          21,886 Atlanta-Sandy Springs-Roswell, GA                                                                                          19,551 Austin-Round Rock, TX                                                                                          16,927 Charlotte-Concord-Gastonia, NC-SC                                                                                          14,218 Orlando-Kissimmee-Sanford, FL                                                                                          12,094 Tampa-St. Petersburg-Clearwater, FL                                                                                          11,566 Nashville-Davidson–Murfreesboro–Franklin, TN                                                                                          11,564 Jacksonville, FL                                                                                          10,353 For multifamily permits, below are the top ten local areas that issued the highest number of permits.  Metropolitan Statistical Area  Multifamily Permits: Aug-22 (Units #YTD, NSA) New York-Newark-Jersey City, NY-NJ-PA                                                                                        36,009 Dallas-Fort Worth-Arlington, TX                                                                                        22,495 Houston-The Woodlands-Sugar Land, TX                                                                                        18,025 Austin-Round Rock, TX                                                                                        16,979 Seattle-Tacoma-Bellevue, WA                                                                                        13,901 Los Angeles-Long Beach-Anaheim, CA                                                                                        13,407 Atlanta-Sandy Springs-Roswell, GA                                                                                        13,090 Washington-Arlington-Alexandria, DC-VA-MD-WV                                                                                        12,651 Phoenix-Mesa-Scottsdale, AZ                                                                                        12,154 Minneapolis-St. Paul-Bloomington, MN-WI                                                                                        11,232 Related ‹ Share of New Homes with Porches Dips Below 64 PercentTags: home building, multifamily, single-family, state and local markets, state permits

Single-Family Permits Decline in August 20222022-10-17T09:21:37-05:00

Employment Situation in August: State-Level Analysis

2022-09-20T01:22:03-05:00

Nonfarm payroll employment increased in 37 states in August compared to the previous month while 13 states and the District of Columbia lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 315,000 in August, following a gain of 526,000 jobs in July. On a month-over-month basis, employment data was strong in Kentucky, which added 26,700 jobs, followed by New York (+25,600), and Florida (+20,700). Thirteen states and the District of Columbia lost a total of 35,400 jobs.  In percentage terms, employment in Alaska and Kentucky each increased by 1.4% while Mississippi reported a 0.7% decline between July and August. Year-over-year ending in August, 5.8 million jobs have been recovered, marking a full recovery of the labor market from the COVID-19 pandemic induced recession. All the states and District of Columbia added jobs compared to a year ago. The range of job gains spanned 726,900 jobs in Texas to 5,700 jobs added in Vermont. In percentage terms, Texas reported the highest increase by 5.7%, while Mississippi increased by 1.0% compared to a year ago. Across the 48 states which reported construction sector jobs data—which includes both residential as well as non-residential construction— 30 states reported an increase in August compared to July, while 15 lost construction sector jobs. Maryland, Maine, and Nevada reported no change. Arizona added 5,300 construction jobs while Minnesota lost 1,900 jobs. Overall, the construction industry added a net 16,000 jobs in August compared to the previous month. In percentage terms, Arizona increased by 2.9% while Wyoming reported a decline of 3.2% between July and August. Year-over-year, construction sector jobs in the U.S. increased by 311,000, which is a 4.2% increase compared to the August 2021 level. Texas added 50,000 jobs, which was the largest gain of any state, while Minnesota lost 1,800 construction sector jobs. In percentage terms, New Mexico had the highest annual growth rate in the construction sector by 14.2%. Over this period, Minnesota reported a decline of 1.4%. Related ‹ Decline in Single-Family Permits in July 2022Builder Confidence Falls for Ninth Straight Month as Housing Slowdown Continues ›Tags: construction labor, economics, state and local markets, state employment

Employment Situation in August: State-Level Analysis2022-09-20T01:22:03-05:00

Employment Situation in July: State-Level Analysis

2022-08-22T09:14:49-05:00

Nonfarm payroll employment increased in 46 states and the District of Columbia in July compared to the previous month while four states lost jobs. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 528,000 in July, following a gain of 398,000 jobs in June.  As of July 2022, the U.S. labor market is back to pre-pandemic levels. On a month-over-month basis, employment data was strong in California, which added 84,800 jobs, followed by Florida (+73,800), and Texas (+72,800). North Dakota, Montana, Kentucky, and Tennessee lost a total of 25,100 jobs.  In percentage terms, employment in Hawaii increased by 1.3% while Kentucky reported a 0.6% decline between June and July. Year-over-year ending in July, 6.1 million jobs have been recovered, marking a full recovery of the labor market from the COVID-19 pandemic induced recession. All the states and District of Columbia added jobs compared to a year ago. The range of job gains spanned 740,000 jobs in California to 4,200 jobs added in Alaska. In percentage terms, Texas reported the highest increase by 5.8%, while Kansas increased by 1.0% compared to a year ago. Across the 48 states which reported construction sector jobs data—which includes both residential as well as non-residential construction— 31 states reported an increase in July compared to June, while 15 lost construction sector jobs. Idaho and Rhode Island reported no change. California added 11,400 construction jobs while New York lost 2,000 jobs. Overall, the construction industry added a net 32,000 jobs in July compared to the previous month. In percentage terms, North Dakota increased by 3.7% while Louisiana reported a decline of 1.1% between June and July. Year-over-year, construction sector jobs in the U.S. increased by 311,000, which is a 4.2% increase compared to the July 2021 level. Texas added 49,200 jobs, which was the largest gain of any state, while New Jersey lost 2,600 construction sector jobs. In percentage terms, New Mexico had the highest annual growth rate in the construction sector by 13.5%. Over this period, New Jersey reported a decline of 1.6%. Related ‹ Jump for Multifamily Rental DevelopmentTags: construction labor, economics, state and local markets, state employment

Employment Situation in July: State-Level Analysis2022-08-22T09:14:49-05:00

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