The U.S. Bureau of Labor Statistics (BLS) has reported that the unemployment rate fell by 0.4% point to 6.3% in January, while nonfarm payroll employment changed little (+49,000). The BLS says the labor market continued to reflect the impact of the coronavirus (COVID-19) pandemic and efforts to contain it. A closer look at the Bureau of Labor Statistics January 2021 Employment Summary, with an emphasis on construction, reveals that construction employment changed little over the month (-3,000), after having increased for the previous 8 consecutive months. Since February 2020, employment in the construction industry has declined by 256,000 positions. With non-residential construction bearing the brunt of the losses.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.
Employment Situation Summary