The jobs report crushed expectations, with jobs coming in at 236K, ahead of the 165K that analysts had expected.Here’s an interesting sub-number.
Construction jobs are booming:
In February, employment in construction increased by 48,000. Since September, construction employment has risen by 151,000. In February, job growth occurred in specialty trade contractors, with this gain about equally split between residential (+17,000) and nonresidential specialty trade contractors (+15,000). Nonresidential building construction also added jobs (+6,000).
Housing starts have been booming, but actual construction jobs have lagged a bit. No more.
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