
The construction industry added 33,000 jobs during April 2019, according an analysis of U.S. Bureau of Labor Statistics data by Associated Builders ad Contractors (ABC). Compared to 12 months earlier, construction employment has increased by 256,000 jobs or 3.5%. Residential construction employment increased 4.9% year over year despite losing 2,500 jobs during April.
Overall, the construction industry unemployment rate fell to 4.7%, down 2.2 percentage points from the same time last year, which represents the lowest April rate since the series began in the year 2000. The national unemployment rate for all industries fell to 3.6% in April.
“For construction firms, [the] jobs report is consistent with lengthy backlog, continued expansion in consumer outlays, growing demand for office and other forms of space, and steady demand for construction services,” said ABC chief economist Anirban Basu. “As contractors continue to struggle to identify and afford talent, average hourly earnings for construction employees increased by 0.4% from March to April, approximately twice the rate of growth observed across all industries. That said, construction wages have expanded at a slightly slower rate than all industries over the past year, increasing by 3.1%."
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