Tag: unemployment

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”

U.S. Labor Market Resurgent in June; Construction Adds 16,000 Jobs

ABCIncLogoNational construction employment added 16,000 net new jobs on a seasonally adjusted basis in June, according to an analysis of data from the U.S. Bureau of Labor Statistics by Associated Builders and Contractors (ABC). Overall construction employment expanded 3.1 percent on a year-over-year basis, easily outpacing the year-over-year growth rate of 1.6 percent for all nonfarm industries.

The nonresidential construction sector added 10,300 net new jobs in June after addingconstruction-workers 4,900 in May (revised upward from 4,400 jobs), while the residential sector added 6,000 net jobs for the month.

The construction industry unemployment rate, which fell 1 percentage point in May, declined further in June and now stands at just 4.5 percent. Construction unemployment tends to decline in the summer. However, the decline in unemployment is still significant because industry unemployment now stands near lows achieved in 2006.

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