The 2020 Mid-Year Economic Update_long

Construction Jobs Increase in December

Unemployment rate was unchanged at 5 percent for third month in a row.

Construction employment increased by 45,000 in December, while employment in manufacturing and wholesale trade was flat, according to the U.S. Bureau of Labor Statistics.

Overall, total nonfarm payroll employment increased by 292,000 in December, and the unemployment rate was unchanged at 5 percent.

Construction Job gains occurred among specialty trade contractors (+29,000) and in construction of buildings (+10,000). Over the year, construction added 263,000 jobs, compared with a gain of 338,000 jobs in 2014.

Employment in professional and business services increased by 73,000 in December, with temporary help services accounting for 34,000 of the gain. In 2015, professional and business services added 605,000 jobs, compared with a gain of 704,000 in 2014.

Employment in other major industries, including wholesale trade, retail trade, financial activities and government, changed little over the month.

In December, average hourly earnings for all employees on private nonfarm payrolls, at $25.24, changed little (-1 cent), following an increase of 5 cents in November. Over the year, average hourly earnings have risen by 2.5 percent. In December, average hourly earnings of private-sector production and nonsupervisory employees, at $21.22, changed little (+2 cents ).

The change in total nonfarm payroll employment for October was revised from +298,000 to +307,000, and the change for November was revised from +211,000 to +252,000. With these revisions, employment gains in October and November combined were 50,000 higher than previously reported. Over the past 3 months, job gains have averaged 284,000 per month.

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