State-by-State Employment Data for April
Nonfarm employment increased in 38 states and the District of Columbia in April compared to the previous month, while 11 states saw a decrease. Alaska reported no change during this time. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased by 175,000 in April, following a gain of 315,000 jobs in March.
Across the nation, construction sector jobs data — which includes both residential and non-residential construction — showed that 28 states reported an increase in April compared to March, while 19 states and the District of Columbia lost construction sector jobs. The three remaining states — Mississippi, Rhode Island and South Carolina — reported no change on a month-over-month basis.
Overall, the construction industry added a net 9,000 jobs in April compared to the previous month.
Year over year, construction sector jobs in the U.S. increased by 258,000, which is a 3.2% increase compared to the April 2023 level. Texas added the most jobs (30,500) of any state, while New York lost 7,100 construction sector jobs. In percentage terms, Alaska had the highest annual growth rate in the construction sector at 18%, while Maryland reported the largest decline of 4%.
Danushka Nanayakkara-Skillington, NAHB assistant vice president for forecasting and analysis, provides more insights in this Eye on Housing post.
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Latest Economic News
The U.S. labor market rebounded in October, with nonfarm payroll employment increasing by 165,000 jobs and the unemployment rate declining to 4.1%. However, the improvement in overall employment contrasts with continued weakness in residential construction, where employment fell by 16,400 jobs, the largest monthly decline since March 2021.
New multifamily housing confidence weakened year-over-year in the third quarter, according to the Multifamily Market Survey (MMS) by the National Association of Home Builders (NAHB). The MMS produces two separate indices. The Multifamily Production Index (MPI) had a reading of 41, down five points year-over-year, while the Multifamily Occupancy Index (MOI) had a reading of 69, also down five points year-over-year.
Mortgage application activity declined in October as the 30-year fixed mortgage rate rose sharply again. The Mortgage Bankers Association’s (MBA) Market Composite Index, a measure of total mortgage application volume, fell 14.1% month-over-month in October on a seasonally adjusted basis. Compared to a year ago, total mortgage applications were 39.8% lower.