Data Digest 2.03.23: Construction employment, pay rise in January

Construction employment, pay rise in January; job openings set December record but spending slips  Construction employment  Description
 of News Story ImageConstruction employment, seasonally adjusted, totaled a record-high 7,884,000 in January, an increase of 25,000 from the upwardly revised December total and 294,000 (3.9%) year-over-year (y/y), according to AGC’s analysis of data the Bureau of Labor Statistics (BLS) posted today…Read moreJob opening and new hires in construction  Description of News Story ImageThere were 359,000 job openings in construction, not seasonally adjusted, at the end of December, an increase of 58,000 (19%) y/y and the largest December total in the 23-year history of the data, BLS reported on Wednesday in its monthly Job Openings and Labor Turnover Survey (JOLTS) release…  Read moreConstruction spending  Description of News Story
 ImageConstruction spending (not adjusted for inflation) totaled $1.81 trillion in December at a seasonally adjusted annual rate, down 0.4% from the upwardly revised November rate and up 7.7% y/y, the Census Bureau reported on Wednesday. However, without a deflator, it is impossible to say how much of the y/y gain is in units vs. price…  Read moreWages and salaries in the construction industry   Wages and salaries in the construction industry rose 1.2%, seasonally adjusted, in the fourth quarter (Q4) of 2022 and 4.7% y/y, up from 3.3% y/y in Q4 2021, BLS reported on Tuesday. The y/y increase was the steepest since the series began in 2001…  Read moreMetro area construction employment   Construction employment, not seasonally adjusted, rose from December 2021 to December 2022 in 268 (75%) of the 358 metro areas (including divisions of larger metros) for which BLS posts construction employment data, fell in 47 (13%) and was unchanged in 43, according to an analysis AGC released on Tuesday…  Read more