Archive for June 2016

In 2015, construction added 222,000 jobs, 9% of all new jobs, and behind only the retail, food, professional services and healthcare sectors, all of which are much bigger than construction. Thus, construction was the sector with the largest percentage employment growth in 2015 and Y-o-Y. Yet Y-o-Y construction wage growth has been just 2.2%, about…

Consumer spending rose 1% in April, the biggest rise since 8/09. Moreover, personal income grew a strong 0.4% and the savings rate declined to 5.4% from 5.9%. May auto sales remained strong at an annualized rate of 17.5 million, but May construction spending surprised to the downside, with residential construction spending falling, but not much.…