In September, estimated not seasonally adjusted construction unemployment rates fell nationally and in 48 states and rose in two states on a year-over-year basis, according to an analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. For the fifth consecutive month, the construction unemployment rates for all 50 states were below 10%. For the nation and 29 states, this was their lowest September construction unemployment rate on record.
The construction industry employed 155,000 more workers nationally compared to September 2018, as the September 2019 national NSA construction unemployment rate fell from 4.1% to 3.2% over the same period, according to BLS numbers. But the worrying trend of declining growth in construction employment continues. September’s increase in year-over-year employment is the smallest increase since the January 2013 increase of 116,000. Part of the slowdown in employment growth may be result of the continued shortage of skilled workers.
Reprinted courtesy of Associated Builders and Contractors, Inc., Construction Executive, a publication of Associated Builders and Contractors. All rights reserved.