The construction industry added 11,000 jobs on net in June, according to an Associated Builders and Contractors analysis of data released recently by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 64,000 jobs, an increase of 0.8 percent.
Nonresidential construction employment increased by 19,900 positions, with gains in all three subcategories. Nonresidential specialty traded added the most jobs, increasing by 14,100 net positions. Nonresidential building and heavy and civil engineering added 3,200 and 2,600 jobs, respectively, in June.
The construction unemployment rate was 4.7 percent in June. Unemployment across all industries dropped to 4.2 percent and is 0.1 percentage point higher than one year ago.
“Today’s jobs report was full of positive signs for the nonresidential side of the industry,” said ABC Chief Economist Anirban Basu. “The nonresidential segment continued to add jobs in June and has grown several times faster than the economywide average over the past 12 months.
“At the same time, the supply of labor appears adequate to fuel ongoing hiring,” said Basu. “The industry’s unemployment rate rose to 4.7 percent, higher than in any June since 2021, and that slack took some pressure off of wage escalation. Average hourly earnings for non-managerial construction workers rose at the slowest pace since last September. With ABC contractors signaling ongoing hiring intentions, according to ABC’s Construction Confidence Index, it appears likely that the industry will continue to expand its employment base over the coming months.”
