Employment falls in April, May but April openings rise; various materials prices increase
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Nonfarm payroll employment in May increased by 38,000, seasonally adjusted, from March and by 2,398,000 (1.7%) over 12 months, the Bureau of Labor Statistics (BLS) reported on Friday. The unemployment rate declined to 4.7% from 5.0% in April. Construction employment dropped by 15,000 for the month (to 6,645,000) but increased by 219,000 (3.4%) year-over-year (y/y). The estimated change for April was revised from +5,000 to -1,000. Residential construction employment (residential building and specialty trade contractors) decreased by 4,400 for the month but rose by 127,700 (5.2%) y/y. Nonresidential employment (nonresidential building, specialty trades, and heavy and civil engineering construction) shrank by 10,300 for the month but increased by 91,400 (2.3%) y/y. Read more » about AGC's Data DIGest: June 3-9, 2016