Construction employment added 9,000 jobs on net in April, according to Associated Builders and Contractors. On a year-over-year basis, the industry has expanded by 258,000 jobs—an increase of 3.2%.
The construction unemployment rate fell from 5.4% in March to 5.2% in April. The national unemployment rate for all industries increased from 3.8% in March to 3.9% in April as the U.S. economy added 175,000 jobs.
Nonresidential construction added 7,800 jobs in April, with growth in all three subsectors. Nonresidential specialty trade contractors added 6,600 jobs; nonresidential building added 900 jobs; and heavy and civil engineering added 300 jobs.
“It is really quite remarkable that the nation’s nonresidential construction sector continues to add jobs so consistently in an environment characterized by elevated project financing costs,” said ABC Chief Economist Anirban Basu. “At the heart of growing demand for construction workers in America is the prevalence of megaprojects in many parts of the country, including major manufacturing plants, data centers and public works.
“Based on ABC’s Construction Confidence Index, there is more hiring to come,” Basu continued. “While there is observable weakness in certain industry segments, particularly in the challenging office market, ongoing spending growth in other construction segments has thus far more than fully countervailed that softness. Many megaprojects are just now beginning construction, strongly suggesting a stable U.S. nonresidential construction labor market for months to come. Such considerations are also consistent with relatively rapid increases in construction worker compensation during the balance of 2024.”
