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Construction employment increases in January

Construction employment increased by 36,000 jobs in January to the highest level since August 2008, according to www.agc.org.

"The construction industry has consistently added workers at nearly double the rate of the overall economy," says Ken Simonson, chief economist for the Associated General Contractors of America (AGC). "The outlook remains positive for further growth in the industry. But finding workers to complete all projects will be a challenge with unemployment so low overall and in construction."

Construction employment totaled 7.009 million in January, an increase of 36,000 from December 2017 and 226,000, or 3.3 percent, from January 2017.

Residential construction added 19,000 jobs in January and 88,400 jobs, or an increase of 3.3 percent, during the past 12 months. Nonresidential construction added 16,400 jobs in January and 137,200 jobs, or an increase of 3.3 percent, during the past 12 months.

The number of unemployed jobseekers with recent construction experience fell to 707,000 in January from 859,000 in January 2017, and the unemployment rate in construction dropped to 7.3 percent in January from 9.4 percent a year earlier. The number and rate were the lowest for January since the series began in 2000.


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