Construction industry unemployment rate fell to 14.5 percent, down from 17.2 percent
The nation’s construction industry unemployment rate fell to 14.5 percent, down from 17.2 percent in March and 17.8 percent in April, according to the May 4 employment report by the U.S. Labor Department. Year over year, the construction industry has added 63,000 jobs or 1.1 percent.
“The nation’s economy has managed to regain some semblance of momentum since last September, which should ultimately translate into better news for the construction industry,” said Associated Builders & Contractors (ABC) Chief Economist Anirban Basu.
“The construction industry has suffered so much during this economic downturn. It’s good to hear some positive employment news,” said Peter Dyga, president & CEO of Associated Builders and Contractors Florida East Coast Chapter (ABC-FEC)
- The nonresidential building construction sector has added 6,000 jobs, a 0.9 percent increase year-over-year as April employment stood at 658,400.
- Nonresidential specialty trade contractors have gained 3,900 jobs, a 0.2 percent increase since last April.
- Heavy and civil engineering construction employment went up by 3,300 jobs for the month and has added 18,400 jobs, a 2.2 percent increase from April 2011.
- Year over year, the nation has added 1,816,000 jobs, or a 1.4 percent increase to job totals.
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