Construction employment increased by 11,000 jobs in October to the highest level in nine years, while the industry’s unemployment rate fell to 4.5 percent, the lowest October rate since 2006, according to an analysis of new government data by the Associated General Contractors of America.
Association officials said that while hurricane recovery work may have helped boost employment in the sector, most of the gains are occurring because of strong demand for many types of private-sector projects across much of the country.
Construction employment totaled 6,930,000 in October, a gain of 11,000 for the month and 187,000, or 2.8 percent, over 12 months—twice as great as the 1.4 percent rise in total nonfarm payroll employment.
Residential construction—comprising residential building and specialty trade contractors—added 13,300 jobs in October and 98,500 jobs, or 3.8 percent, over the past 12 months. Nonresidential construction (building, specialty trades, and heavy and civil engineering construction) employment dipped by 2,000 jobs in October but increased by 89,100 positions, or 2.2 percent, over 12 months.
The construction sector’s 4.5 percent unemployment rate and the number of unemployed former construction workers in October, 418,000, were the lowest October figures since 2000, the association noted.