News in end use

ADP Reports Private Sector Employment Increased by 807,000 Jobs in December but Still Trails Pre-Covid-19 Levels

According to the December ADP® National Employment Report™, nonfarm private sector employment increased by 807, 000 jobs from November to December. The ADP National Employment Report is produced by the ADP Research Institute® in collaboration with Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally adjusted basis.

Mortgage Applications Decline Over 2-Week Holiday Period

According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Application Survey (WMAS), for the week ending December 31, 2021, the Market Composite Index (a measure of mortgage loan application volume) decreased -2.7% percent on a seasonally adjusted basis from two week earlier. On an unadjusted basis, the Index decreased -32% compared to two weeks ago.

Construction Job Openings Gain Year-Over-Year in November

A closer look at the Bureau of Labor Statistics (BLS) Job Openings and Labor Turn Over Survey (JOLTS) for November — with an emphasis on the construction labor market and additional analysis provided by the National Association of Home Builders (NAHB) — reveals that the construction labor market remains tight as the number of quits accelerated. According to the report, the number of open/unfilled construction positions in November dropped to 345,000, or -4.4%.

Job Openings and Labor Turnover Summary Released for November 2021

On Tuesday (1-4-22) the U.S. Bureau of Labor Statistics (BLS) reported the Job Openings and Labor Turnover Summary (JOLTS) for November 2021. According to the JOLTS report, as of the last day in November, the number of job openings decreased to 10.6 million (-529,000 or -6.6%). The number of hires was increased to 6.7 million in November, up from October’s 6.5 million. The hire rate was 4.5% up from 4.4% in October.