ABC: Construction unemployment hitting record lows
A busy construction market has the industry posting some of its lowest unemployment levels ever.
The industry’s 7.3 percent January unemployment rate is the lowest ever recorded for the month, the Associated Builders and Contractors said, citing an analysis of government data. The figures are not seasonally adjusted. All 50 states have seen construction job gains in the past year.
An estimated 233,000 more people have construction jobs now than a year ago, the association said.
“Strong construction activity is resulting in healthy construction employment,” said Bernard M. Markstein, Ph.D., president and chief economist of Markstein Advisors, which conducted the analysis for ABC. “The analysis of January construction unemployment marks the first time that every state in the union had a lower rate than a year ago since the beginning of the estimates in 2000.”