Tag: employment

Construction Employment Increases by in July

ABCIncLogoConstruction employment increased by 6,000 jobs in July to the highest level since October 2008, amid a tight labor market that may be keeping contractors from hiring as many workers as they need, according to an analysis of new government data by the Associated General Contractors of America. Association officials urged local, state and federal leaders to enact measures designed to expose more high school students to high-paying careers in construction to offset growing labor shortages.

“Construction firms added employees over the past year at a much higher rate than the EMPLOYMENT MONTH OVER MONTH JULY 2017.pngpublic and private sectors as a whole, but the low unemployment rates in construction and the overall economy suggests contractors are having difficulty filling positions,” said Ken Simonson, the association’s chief economist. “Although construction spending has slowed, many contractors are still looking for qualified craft workers and project managers.”

Construction employment totaled 6.9 million in July, a gain of 6,000 for the month and 191,000, or 2.8 percent, over 12 months. The economist pointed out that the year-over-year growth rate was nearly twice the 1.5 percent rise in total nonfarm payroll employment. The construction sector’s unemployment rate in July, 4.9 percent, was close to the 4.3 percent rate for all workers. Continue reading “Construction Employment Increases by in July”

How Millennials Have Shaped the Construction Industry

Last year marked a milestone for the country’s youngest generation of workers, TRESTLES - MILLENNIALS IN THE 2017 WORKFORCEcommonly known as millennials: They overtook baby boomers as the largest workforce segment in America. Employers should be ecstatic that elevated rates of retirement are positioned to be offset by an influx of younger, energetic, tech-savvy workers ready to stimulate productivity.

But in the construction industry, firms continue to wrestle with skills shortages as older workers in occupational categories such as welding and carpentry retire in large numbers with their potential successors disproportionately pursuing jobs in industries such as finance, professional services and health care. In 2002, 11 percent of construction workers were aged 55 or older, according to data from the Bureau of Labor Statistics. By 2015, this share exceeded 20 percent, per the Current Population Survey.

TRESTLES - Projected USA Population By Generation

What’s more, despite massive growth in the population of twenty-somethings in recent years, by 2015 the fraction of construction workers between the ages of 20 and 24 was around 7 percent—down from 11 percent a decade ago.

This is hardly where millennials’ impact on construction ends. Continue reading “How Millennials Have Shaped the Construction Industry”