The Associated Builders and Contractors reviewed the Bureau of Labor Statistics nonfarm payroll report for April.
News in end use
US Median Home-Sale Price Up 4.8% Year-Over-Year
The median sale price rose to a near-record $383,188 in the four-week period ending April 28th, up 4.8% year-over-year, Redfin reported.
US Construction Sector Employment Cools in April
Construction sector employment increased by 9,000 jobs in April, following a revised gain of 40,000 in March, the BLS and NAHB reported.
US Nonfarm Payroll Increases by 175,000 in April; Unemployment Increases to 3.9%
Total nonfarm payroll employment increased by 175,000 in April. This is below the average monthly gain of 242,000 over the prior 12 months.
Canadian GDP by Province, Territory, and Industry in 2023
For the second consecutive year, real GDP grew in every province in Canada, except Newfoundland and Labrador, albeit at a slower pace than 2022 for most areas.
Canadian Residential and Nonresidential Building Construction Costs Increased in Q1
Residential building construction costs increased 0.8% in Q1, following a 1.1% increase in 2024Q4.
Fixed-Rate Mortgages Continue to Trend Higher in the Week Ending May 2nd
The 30-year fixed-rate mortgage averaged 7.22%, up from last week when it averaged 7.17%, Freddie Mac reported.
Number of Open US Construction Sector Jobs Unexpectedly Declines in March
Construction sector employment is cooling in step with other sectors of the US job market, the BLS and NAHB reported.
US Weekly Jobless Claims Unchanged in the Week Ending April 27th
The advance figure for seasonally adjusted initial unemployment claims was 208,000 during the week ending April 27th, unchanged from the previous week’s revised level.
US Private Sector Job Cuts Slowed in April
US-based employers announced 64,789 job cuts in April, a 28% decline from the 90,309 job cuts reported in March, Challenger, Gray & Christmas reported.