November Jobs Rate Soars…Residential Construction Employment Little Changed

According to the latest Employment Situation Summary from the U.S. Bureau of Labor Statistics, the U.S. economy added 266,000 jobs in November as the unemployment rate fell to 3.5%. However, residential construction employment was little changed (-500) in November, after an increase of 5,400 jobs in October (revised). Total construction industry (both residential and nonresidential) employment totaled about 7.5 million in November.