Restore construction in the Job Report 2020

Aug 6th, 2022
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How to restore construction in the Job Report 2020

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the US economy adding 303,000 jobs in the month of March that was well above expectations of 214,000 now the sectors with the most job games well they included Health Care construction and Hospitality weve got team coverage for you to break down those hot sectors Brook Tama Danny Romero and Angeli klani are tracking the gains book lets start with you in the jump that we saw last month in the hospitality industry yeah good morning shaa Leisure and Hospitality certainly was a driver of the March jobs report last month Leisure and Hospitality sector added 49,000 jobs returning to pre-pandemic February 2020 levels a big deal there for this sector back in March uh back in February rather that revised number was 43,000 and so last month they added more jobs than what we saw back in February now in particular restaurant and job uh restaurant and bars added 28,300 jobs in the month of March an accommodation think hotels they lodging they added 3,200 jobs but across the sector we did see jobs

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The problem of overstated jobs numbers is not a new one. In August 2023, the BLS issued a preliminary revision for the 12 months through March 2023 showing U.S. job growth for that period was overstated by a net 306,000 jobs. Thats 25,500 fewer jobs on average per month in that period.
While the job losses were widespread, they were greatest in industries that involve people (employees, customers, or both) coming in close contact. The leisure and hospitality industry suffered the greatest job losses, but every major industry lost jobs over the year. (See charts 2 and 3.)
Published by the Bureau of Labor Statistics (BLS) at 8:30 am ET on the first Friday of each month, the jobs report, aka the Employment Situation Summary, is an estimate of: The total number of workers in the U.S. (minus farm jobs) Their average hourly earnings. The number of hours worked weekly.
The unemployment rate, reported monthly by the U.S. Bureau of Labor Statistics, provides docHub insight into the health of the nations economy. Generally, the lower the unemployment rate, the stronger the economy is likely to be. The unemployment rate is also one of the mostly closely followed indicators.
Job Outlook Overall employment of construction laborers and helpers is projected to grow 4 percent from 2022 to 2032, about as fast as the average for all occupations. About 151,400 openings for construction laborers and helpers are projected each year, on average, over the decade.
The forthcoming jobs report from the U.S. Bureau of Labor Statistics will provide further clarity for mortgage rate trends. My primary data line for rates is jobless claims; if jobless claims rise faster, mortgage rates will go lower, regardless of what the Fed does, Mohtashami said.
If job growth is strong and the labor market is so robust that wages rise quickly, that could keep price increases higher for longer as companies try to cover their costs. On the other hand, if the job market begins to slow sharply, that could nudge Fed officials toward earlier interest rate cuts.
Between 2020 and 2030, the total U.S. economy is projected to add about 11.9 million jobs, with employment docHubing a level of 165.4 million in 2030.

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