The U.S. Bureau of Labor Statistics has reported that total nonfarm payroll employment rose by 225,000 in January. The unemployment rate inched higher to 3.6%, from 3.5% in December, but still remains near a 50-year low. This translates to 5.9 million persons looking for employment. Residential Construction employment posted its largest gain in the past 12-months, increasing by 20,200 in January. Total construction industry (both residential and nonresidential) employment totaled about 7.6 million in January.
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THE EMPLOYMENT SITUATION — JANUARY 2020