ABC: Two-Thirds of June State Construction Unemployment Rates Down From a Year Ago

The national June 2024 not seasonally adjusted construction unemployment rate was 3.3%, down 0.3% from the previous year, according to a state-by-state analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. The analysis also found that 33 states had lower unemployment rates over the same period, two states were unchanged (Georgia and Michigan) and 15 states were higher.

National NSA payroll construction employment was 232,000 higher than in June 2023. Since February 2022, seasonally adjusted construction employment has exceeded its pre-pandemic peak of 7.6 million. As of June 2024, SA payroll construction employment stood at 8.25 million.

Indicating the relative tightness of the construction employment market, as of this June, 38 states had lower construction unemployment rates compared to June 2019, 11 states had higher rates and one state (Minnesota) was unchanged.

“Healthy economic growth and the prospect of lower interest rates in coming months, along with federal spending on infrastructure, have bolstered construction activity and employment,” said Bernard Markstein, president and chief economist of Markstein Advisors, who conducted the analysis for ABC. “As projects move forward, construction companies are hiring. The anticipation of future construction projects provides additional incentive to hire and train construction workers.”