Construction Gains 23K Jobs in September
(October 10, 2018)
- Construction added 23,000 jobs in September, but the industry’s unemployment rate showed uneven trends, rising from August’s level but declining year over year, the federal Bureau of Labor Statistics has reported.
The latest BLS monthly report on the nation’s employment situation, released on Oct. 5, shows that construction’s September jobless rate increased to 4.1% from August’s 3.4% but it also improved from the year-earlier 4.7%. The rates aren’t adjusted for seasonal variations.
The September construction workforce total is the highest in 10 years, the Associated General Contractors of America noted. AGC also pointed out that construction's average hourly earnings increased 3.1% to $30.18, which is 10.7% above the level for nonfarm private-sector/positions.
AGC Chief Economist Ken Simonson said in a statement that "the pool of unemployed workers with construction experience has nearly evaporated, pushing up contractors' costs and adding to project completion time."