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U.S. Economy Adds 29,000 Jobs in September as Prior Months Are Revised Down – Eye On Housing

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The U.S. labor market cooled in September, with nonfarm payroll employment increasing by just 29,000 as downward revisions erased most of August’s previously reported strength. The unemployment rate edged up to 4.2%, as both employment and the labor force continued to grow. The September report indicates that the labor market is losing momentum, with job growth slowing and unemployment edging higher.

The labor market has lost jobs in seven of the last 21 months.

Wage growth continued to cool, with average hourly earnings rising 3.0% year over year in September, down from 3.1% in August and marking the slowest pace of 2026. Average hourly earnings reached $37.81. The continued deceleration in wage growth points to easing wage pressures, even as the pace of hiring moderates.

National Employment

According to the Employment Situation Summary reported by the Bureau of Labor Statistics (BLS), total nonfarm payroll employment increased by 29,000 in September, following a downwardly revised gain of 133,000 in August. Revisions to prior months were broadly negative, reversing the upward revisions reported last month. The change for July was revised down by 31,000, from a gain of 21,000 reported last month to a decline of 10,000. The change for August was revised down by 29,000, from the preliminary estimate of 162,000 to 133,000. Combined, these revisions subtracted 60,000 jobs from previously reported totals, compared with the 55,000 upward revision reported in the prior month.

Job growth in 2026 has slowed again. Through September, monthly payroll gains have averaged 68,000 based on the current data vintage, down from the 80,000 pace reported through August, reflecting both September’s modest print and the downward revisions to July and August. This compares with an average of just 10,000 per month in 2025 and 122,000 per month in 2024. Over the past 12 months, total nonfarm employment has grown by 496,000, down from the 603,000 gain reported a month ago.

The unemployment rate rose to 4.2% in September from 4.1% in August, though it remains two-tenths of a point below its year-ago level of 4.4%. Over the month, the number of employed persons rose by 406,000, while the number of unemployed persons increased by 78,000. Combined, the civilian labor force expanded by 485,000 in September, continuing the labor force growth that began in August.

Meanwhile, the labor force participation rate—the proportion of the population either looking for a job or already holding a job—rose 0.2 percentage points to 61.8% in September, marking its third consecutive monthly increase. However, the rate remains well below its pre-pandemic level of 63.3% recorded at the start of 2020. Among prime working-age individuals (aged 25 to 54), the participation rate rose 0.3 percentage points to 83.7%, matching its year-ago level.

Outside of construction, employment gains in September were led by health care (+17,000) and leisure and hospitality (+10,000), with manufacturing (+9,000) and transportation and warehousing (+7,600) also expanding. These gains were partially offset by declines in government (-17,000) and information (-10,000).

Construction Employment

Employment in the overall construction sector rose by 11,000 jobs in September, following a gain of 16,000 in August, which was revised down from the 22,000 originally reported. Within the industry, residential construction employment declined by 4,900, reversing August’s gain (also revised down, from 10,700 to 7,900), while nonresidential construction added approximately 16,100 jobs.

Residential construction employment stood at 3.3 million in September, including 923,000 workers employed by builders and remodelers, up from 920,000 in August, and approximately 2.3 million residential specialty trade contractors.

The six-month moving average of residential construction employment changes worsened to a loss of approximately 4,400 jobs per month in September, from a loss of roughly 2,033 in August. Over the last 12 months, residential construction has shed a net of 32,800 jobs, marking the nineteenth consecutive month of year-over-year decline. Despite these losses, residential construction employment remains 1,280,600 positions above its post-Great Recession low. This cushion narrowed from 1,285,500 in August, reflecting September’s employment loss.

Meanwhile, the unemployment rate for construction workers rose to 4.3% in September on a seasonally adjusted basis, up from 4.1% in August but still roughly four-tenths of a point below its year-ago level of 4.7%.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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U.S. Economy Adds 162,000 Jobs in August – Eye On Housing

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The U.S. labor market rebounded in August, with nonfarm payrolls increasing by 162,000 and upward revisions adding 55,000 jobs to June and July. The unemployment rate held steady at 4.1%, as both employment and the labor force participation rate rose over the month. August’s gain leaves just five outright monthly declines in payrolls over the past year and a half, with the most recent occurring in February. While the strength reported for the labor market is positive, today’s data increases the probability of a Federal Reserve rate hike in the near future.

Wage growth continued to cool, with average hourly earnings rising 3.1% year over year in August, down from 3.2% in July and marking the slowest pace of 2026. Average hourly earnings reached $37.75. Meanwhile, a recent sharp increase in energy and gasoline prices, driven by conflicts in the Middle East, has pushed inflation higher even as wage growth has slowed.

National Employment

According to the Employment Situation Summary reported by the Bureau of Labor Statistics (BLS), total nonfarm payroll employment increased by 162,000 in August, following an upwardly revised gain of 21,000 in July. Revisions to prior months were broadly positive, reversing two straight months of downward revisions. The change for June was revised up by 11,000, from the +20,000 reported last month to +31,000, while the change for July was revised up by 44,000, from a preliminary decline of 23,000 to a gain of 21,000. Combined, these revisions added 55,000 jobs to previously reported totals, compared with the 103,000 downward revisions reported in the prior month.

Job growth in 2026 has picked back up. Through August, monthly payroll gains have averaged 80,000 on the current data vintage, up from the 61,000 pace reported through July, reflecting both August’s strong print and the upward revisions to June and July. This compares with an average of just 10,000 per month in 2025 and 122,000 per month in 2024. Over the past 12 months, total nonfarm employment has grown by 603,000, a modest acceleration from the pace of expansion reported over the summer.

The unemployment rate held at 4.1% in August, unchanged from July and 0.2 percentage points below its year-ago level of 4.3%. Over the month, the number of employed persons rose by 569,000, while the number of unemployed persons increased by 115,000. Combined, the civilian labor force expanded by 683,000 in August.

Meanwhile, the labor force participation rate—the proportion of the population either looking for a job or already holding a job—rose 0.2 percentage points to 61.6% in August. It remains well below its pre-pandemic level of 63.3% recorded at the start of 2020. Among prime working-age individuals (aged 25 to 54), the participation rate held at 83.4%, matching July’s level.

Employment gains in August were led by food services and drinking places, which added 59,000 jobs, followed by local government education, with an increase of 42,000. Health care employment continued to trend upward, adding 13,000 jobs, while manufacturing employment also expanded by 16,000. These gains were partially offset by a 23,000 decline in information.

Construction Employment

Employment in the overall construction sector rose by 22,000 jobs in August, following a gain of 18,000 in July. Within the industry, residential construction employment increased by 10,700, its strongest monthly gain in more than a year, while non-residential construction added approximately 10,400 jobs. The gain for residential construction in August is out of sync with other building data and may be subject to a downward revision in future reports.

Residential construction employment stood at 3.3 million in August, including 923,700 workers employed by builders and remodelers, up from 916,400 in July, and 2.3 million residential specialty trade contractors.

The six-month moving average of job gains for residential construction employment remained negative in August but improved to an average monthly loss of approximately 1,233 jobs, compared with a loss of roughly 5,617 jobs in July. Over the last 12 months, residential construction has shed a net of 19,800 jobs, marking the eighteenth consecutive month of year-over-year decline. Despite these losses, residential construction employment remains 1,290,300 positions above its post-Great Recession low. This cushion widened from 1,279,600 in July, reflecting August’s employment gain.

Meanwhile, the unemployment rate for construction workers fell to 4.1% in August on a seasonally adjusted basis, down from 4.6% in July and its lowest reading since April. After several months of volatility, the construction unemployment rate has returned to roughly its year-ago level, suggesting that labor market conditions in construction have stabilized.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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U.S. Economy Adds 57,000 Jobs in June – Eye On Housing

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The U.S. labor market lost momentum in June, with total nonfarm payroll employment rising by just 57,000, the smallest gain since February’s outright decline. Downward revisions to April and May payroll estimates subtracted a combined 74,000 jobs from previously reported totals, reversing the sizable upward revisions reported a month earlier and suggesting underlying hiring momentum was weaker than initially reported. The unemployment rate edged down to 4.2%, essentially unchanged from a year ago, but the decline reflected a shrinking labor force rather than stronger hiring, as both overall and prime-age labor force participation fell notably in June.

Wage growth accelerated modestly in June. Average hourly earnings rose 3.5% from a year earlier to $37.64, up from a 3.4% year-over-year pace in May. This pace is 0.3 percentage points lower than a year ago. Importantly, wage growth has been outpacing inflation for nearly two years, which typically occurs as productivity increases.

National Employment

According to the Employment Situation Summary reported by the Bureau of Labor Statistics (BLS), total nonfarm payroll employment increased by 57,000 in June, following a downwardly revised gain of 129,000 in May. Revisions to prior months were broadly negative this month, a reversal from May’s positive trend. The change for April was revised down by 31,000, from +179,000 to +148,000, while the change for May was revised down by 43,000, from a preliminary +172,000 to +129,000. Combined, these revisions subtracted 74,000 jobs from previously reported totals, compared with the 93,000 upward revisions reported in the prior month.

Job growth in 2026 has moderated following a stronger spring. Through June, monthly payroll gains have averaged 92,000 on the current data vintage, down from the 114,000 pace reported through May, reflecting both June’s soft print and the downward revisions to April and May. This compares with an average of just 10,000 per month in 2025 and 122,000 per month in 2024. Over the past 12 months, total nonfarm employment has grown by 506,000, a considerably slower pace of expansion than earlier in the cycle.

The unemployment rate declined to 4.2% in June from 4.3% in May, essentially matching its year-ago level of 4.1%. However, the improvement was driven by a shrinking labor force rather than stronger hiring. Over the month, the number of unemployed persons fell by 213,000 to 7.1 million, while the number of employed persons declined by 507,000. Combined, the civilian labor force contracted by 720,000 in June.

Meanwhile, the labor force participation rate—the proportion of the population either looking for a job or already holding a job—fell 0.3 percentage points to 61.5% in June. This marks the lowest level since March 2021 and remains well below its pre-pandemic level of 63.3% recorded at the start of 2020. Among prime working-age individuals (aged 25 to 54), the participation rate dropped 0.6 percentage points to 83.3%, one of the sharpest single-month declines of this cycle and an indication that June’s pullback in labor force participation was not confined to either younger or older workers.

Job gains in June were concentrated in a handful of sectors. Employment increased by 36,000 in professional and business services, 25,000 in social assistance, and 22,000 in health care. In contrast, leisure and hospitality shed 61,000 jobs, reflecting weaker than usual seaonal hiring.

Construction Employment

Employment in the overall construction sector rose by 11,000 jobs in June, following a gain of 6,000 in May. Within the industry, residential construction employment declined by 8,600, while non-residential construction added approximately 19,900 jobs.

Residential construction employment now stands at 3.3 million in June, including 916,000 workers employed by builders and remodelers and 2.4 million residential specialty trade contractors.

The six-month moving average of job gains for residential construction employment remains negative, reflecting an average monthly loss of 3,517 jobs and declines in four of the past six months. Over the last 12 months, residential construction has shed a net of 48,800 jobs, marking the sixteenth consecutive month of annual decline and the longest stretch of annual losses since the Great Recession. However, residential construction has gained 1,283,400 positions from its post-Great Recession low.

Meanwhile, the unemployment rate for construction workers rose to 6.2% in June on a seasonally adjusted basis, up from 5.2% in May and 3.7% in April. This marks the second consecutive monthly increase and the highest reading since July 2021. A year earlier, the construction unemployment rate stood at 4.5%. The continued increase suggests softness in construction labor market conditions.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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U.S. Economy Adds 115,000 Jobs in April – Eye On Housing

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The U.S. labor market continued to show resilience in April, with job growth persisting despite elevated interest rates and rising geopolitical uncertainty related to the Iran conflict. The unemployment rate held steady at 4.3%. Hiring gains were concentrated in health care, transportation and warehousing, and retail trade, underscoring continued strength in service-oriented sectors.

Wage growth accelerated modestly in April, with average hourly earnings rising 3.6% year-over-year. This pace is 0.3 percentage points lower than a year ago. Importantly, wage growth has been outpacing inflation for nearly two years, which typically occurs as productivity increases.

National Employment

According to the Employment Situation Summary reported by the Bureau of Labor Statistics (BLS), total nonfarm payroll employment increased by 115,000 in April, following an upwardly revised gain of 185,000 jobs in March. Revisions to prior months were modest overall. The monthly change in total nonfarm payroll employment for February was revised down by 23,000 from -133,000 to -156,000, while the change for March was revised up by 7,000 from +178,000 to +185,000. Combined, these revisions reduced previously reported employment by 16,000 jobs.

Job growth in early 2026 remains well below 2024 levels but stronger than the weak pace recorded in 2025. Through April, monthly payroll gains have averaged 76,000, compared with 10,000 per month in 2025 and 122,000 in 2024.

The unemployment rate remained unchanged at 4.3% in April. Over the month, the number of persons unemployed rose by 134,000, while the number of persons employed declined by 226,000.

Meanwhile, the labor force participation rate—the proportion of the population either looking for a job or already holding a job—declined 0.1 percentage points to 61.8%. This marks the lowest level since November 2021 and remains below its pre-pandemic level of 63.3% recorded at the beginning of 2020. Among prime working-age individuals (aged 25 to 54), the participation rate held steady at 83.8%.

In April, job gains occurred in health care (+37,000), transportation and warehousing (+30,000), and retail trade (+22,000), while federal government employment continued to decline. Since reaching a peak in October 2024, federal government employment has fallen by 348,000 jobs, or 11.5%.

Construction Employment

Employment in the overall construction sector rose by 9,000 jobs in April, following a downwardly revised gain of 16,000 in March. Within the industry, residential construction shed 10,400 jobs, while non-residential construction added 19,000 jobs.

Residential construction employment now stands at 3.3 million in April, including 927,000 workers employed by builders and remodelers and nearly 2.4 million residential specialty trade contractors.

The six-month moving average of job gains for residential construction remains negative, reflecting an average monthly loss of 2,333 jobs and declines in three of the past six months. However, over the last 12 months, residential construction has shed a net of 49,200 jobs, marking the fourteenth consecutive annual decline and the longest stretch of annual losses since the Great Recession. Despite these declines, residential construction has gained 1,297,100 positions from its post-Great Recession low.

Meanwhile, the unemployment rate for construction workers declined to 3.7% in April on a seasonally adjusted basis, remaining relatively low compared with historical norms.



This article was originally published by a eyeonhousing.org . Read the Original article here. .

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