Construction Unemployment Falls to 14-Year Low
May 8, 2015
Construction firms added 45,000 jobs in April — making an additional 280,000 over 12 months — according to an analysis by the Associated General Contractors of America (AGC).
The industry’s unemployment rate, 7.5 percent, is its lowest since 2001.
“Construction employment resumed strong growth in April after slipping in March and is now growing at more than double the growth rate for total nonfarm employment,” said Ken Simonson, the association’s chief economist. “Nevertheless, job growth remains spotty, with the nonresidential building sector losing jobs even as other construction sectors expanded.”
“The last time the sector’s unemployment level was this low construction firms were scrambling to find enough workers,” said Stephen E. Sandherr, the association’s chief executive officer. “While the labor situation isn’t as dire as it was back in 2006, Washington must act soon before more firms struggle to find enough workers to meet demand.”
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