Construction Employment Surges in February to Near Pre-Pandemic Levels, Says ABC

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The construction industry added 60,000 jobs on net in February, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. Overall, the industry has recovered virtually all (99%) of the jobs lost during earlier stages of the pandemic. Nonresidential construction employment increased by 29,400 positions in February, with all three subsectors experiencing growth, and is up 3.9% over the past 12 months. The residential sector added 31,000 in February and is up 4.5% since February 2021. The construction unemployment rate fell to 6.7% in February. Unemployment across all industries declined to 3.8%, … Read more

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Nonresidential Construction Adds 2,900 Jobs in July, Says ABC

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The nation’s construction industry added 11,000 jobs on net in July, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. Overall, the industry has recovered 886,000 (79.6%) of the jobs lost during earlier stages of the pandemic. Nonresidential construction employment expanded by 2,900 positions on net, though more than 100% of the gains were among nonresidential specialty trade contractors, which added 7,500 jobs. The nonresidential building (-2,500) and heavy and civil engineering (-2,100) segments both lost jobs in July. The construction unemployment rate fell to 6.1% in July. Unemployment across all … Read more

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Marcum Construction Index Shows Industry Holding Steady in COVID-19 Economy

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The Marcum Commercial Construction Index for the second quarter of 2020 reports the industry is holding relatively well in the face of the COVID-19-driven recession. Construction employment has rebounded since plummeting in March and April, and the industry’s unemployment rate stands at 8.9%, below the 10.2% rate observed across all industries. The index is produced by Marcum’s National Construction Services group. “The data indicate that construction has recovered faster than any other major economic segment. Over the three-month period ending in July, the industry recovered 59% of the jobs lost in March and April,” wrote Anirban Basu, author of the … Read more

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