• U.S. employers added a less-than-expected 156,000 jobs in August, and prior months’ gains were revised downward, according to the August jobs report from the Bureau of labor Statistics.
• Construction employment nationwide rose by 28,000 in August, after showing little change over the prior 5 months. Employment among residential specialty trade contractors edged up
  by 12,000 over the month.
• Wages grew 2.5 percent year-over-year, in line with the annual growth pace from the past several months.

After showing little growth for much of the spring and summer,  the construction industry broke through in August and added almost 30,000 jobs nationwide, highlighting what was otherwise a fairly disappointing August jobs report characterized by slower-than-expected job growth and slow but steady wage growth. The end of summer typically marks the point at which peak construction season and seasonal gains in construction employment begin to wind down. But a number of factors point to continued strength in construction work over the next several months and beyond, through the generally slower winter months. Overall home construction activity is falling well short of demand, and the relatively mild winter climates in some of the nation’s hottest housing markets – the Bay Area, Pacific Northwest, Texas and parts of the Southeast, in particular – suggests building season could be extended in these areas. And while it’s still far too soon to fully measure the impact of Hurricane Harvey on Houston and the surrounding Gulf Coast region, it’s already clear that rebuilding efforts there will extend well into the coming months, if not years. Over the next year, the Houston area by itself could reasonably be expected to add almost 20,000 new construction jobs alone, assuming a rebuild proportional to that experienced in New Orleans after Hurricane Katrina. Because of Houston’s size and national economic importance, these workers will likely be drawn from throughout the Southeast and beyond at a time when national unemployment is near historic lows and the construction industry has already been reporting widespread labor shortages. As southeast Texas gradually recovers, the region’s rebuilding will provide an extra boost to an already strong labor market.