Matthew Speakman on what’s driving homebuyer demand

Zillow Economist Speakman explains what Zillow’s recent report on homebuyer demand tell us about the current state of the housing market.

Record low mortgage rates hold steady at 2.72%

This is the second week in a row rates have sat at the lowest recorded level in the survey’s near 50-year history.

What Yellen as Treasury Secretary would mean for housing

Experts weigh in on former Fed Chair’s possible impact on GSE reform and how she could jumpstart the economy.

Building the one-touch digital mortgage

As Katherine Campbell drives toward a one-touch mortgage, she’s taking time to share what she has learned along the way.

Politics & Money

U.S. employment increases by 291K jobs in January

Construction industry adds more than 40K jobs during the month

U.S. employers increased their hiring in January, according to ADP Research Institute and Moody’s Analytics.

The National Employment Report indicates that private sector employment increased by 291,000 jobs from December to January. However, the number of jobs added in December was revised down from 202,000 to 199,000.

Mark Zandi, Moody’s Analytics’ chief economist, attributes January’s employment gain to the nation’s relatively stable winter weather.

“Mild winter weather provided a significant boost to the January employment gain,” Zandi said. “The leisure and hospitality and construction industries, in particular, experienced an outsized increase in jobs. Abstracting from the vagaries of the data, underlying job growth is close to 125,000 per month, which is consistent with low and stable unemployment.”

The report indicates that construction employment increased by more than 40,000 jobs, and overall the goods-producing sector is predicted to increase by 54,000 jobs.

Below is a breakdown of job segments that saw changes in employment between December and January:

The goods-producing sector increased by 54,000 jobs, including:

Natural resources and mining: Decrease 2,000

Construction: Increase 47,000

Manufacturing: Increase 10,000

The service-providing sector increased by 237,000 jobs, including:

Trade, transportation and utilities: Increase 8,000

Information: Increase 2,000

Financial activities: Increase 2,000

Professional and business services: Increase 49,000

Education and health services: Increase 70,000

Leisure and hospitality: Increase 96,000

Other services: Increase 10,000

“The labor market experienced expanded payrolls in January,” said Ahu Yildirmaz, vice president and cohead of the ADP Research Institute. “Goods producers added jobs, particularly in construction and manufacturing, while service providers experienced a large gain, led by leisure and hospitality. Job creation was strong among midsized companies, though small companies enjoyed the strongest performance in the last 18 months.”

The chart below demonstrates the rate of increase since 2013:

NOTE: This report is a monthly measure of the change in total U.S. non-farm private employment derived from actual, anonymous payroll data of client companies served by the company. The data is collected and processed with statistical methodologies similar to those used by the U.S. Bureau of Labor Statistics.

[Update: The headline and text of this article were changed to reflect the accurate data from ADP.]

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please