Monday, May 7, 2012

US Construction Jobless Rate Ebbs

Even though the construction industry continued to lose jobs in April (the month saw another loss of 2,000 construction industry related jobs), the construction industry unemployment rate saw a drop of nearly three percent (3%). 
Construction Industry Unemployment Numbers April 2012

The United States Department of Labor's latest employment report indicated that the hardest hit area in the construction industry in April was "non-residential specialty trade contracting," which saw a decline of approximately 8,400 jobs. Strangely, however, despite general residential construction losing more jobs, residential specialty trade contractor employment increased by 6,300 jobs. Civil and heavy industry construction saw employment increases of 3,300.

In general, construction employment numbers are up 1.1%, or 63,000 jobs, when compared year over year. Unemployment dropped a staggering 3% in the construction industry, from 17.2 percent in March to 14.5 percent in April, but this could be attributable to construction workers dropping out of the labor market altogether, or finding another career.

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