Construction Firms Add 15,000 Jobs as Unemployment Rate Hits Record Low

The construction sector added 15,000 jobs in April while the sector’s unemployment rate fell to a record low for the month and the number of unfilled construction positions is close to a monthly high, according to an analysis of new government data the Associated General Contractors of America released. Association officials said the industry likely would have added even more positions if contractors could find more qualified workers.

Construction employment in April totaled 7.9 million seasonally adjusted, an addition of 15,000 or .2% from the month prior. Nonresidential construction firms — nonresidential building and specialty trade contractors along with heavy and civil engineering construction firms — added only 800 employees in April. Meanwhile, employment at residential building and specialty trade contractors grew by 14,200 or .4%.

The unemployment rate among jobseekers with construction experienced declined from 4.6% in April 2022 to 4.1%, the lowest April rate in the 23-year history of the data. A separate government report released earlier this week reported that job openings in construction at the end of March totaled 355,000, just shy of the all-time high for March of 359,000.

Average hourly earnings for production and nonsupervisory employees in construction — covering most onsite craft workers, as well as many office workers — jumped by 6.7% over the year to $33.94 per hour. Construction firms in April provided a wage “premium” of nearly 19% compared to the average hourly earnings for all private-sector production employees.