The 2020 Mid-Year Economic Update_long

Construction Sector Unemployment Rate Drops to 7.5% in April

Construction employers added 45,000 jobs in April.

Construction employers added 45,000 jobs in April and 280,000 over the past year, as the sector's unemployment rate fell to a nine-year April low of 7.5 percent, according to the Associated General Contractors of America. Association officials noted that even as the industry continues to expand, growth has been erratic and inconsistent.

"Construction employment resumed strong growth in April after slipping in March and is now growing at more than double the growth rate for total nonfarm employment," said Ken Simonson, AGC's chief economist. "Nevertheless, job growth remains spotty with the nonresidential building sector losing jobs even as other construction sectors expanded."

According to the AGC report, construction employment totaled 6,384,000 in April, compared to 6,338,000 in March and 6,103,000 in April 2014. Residential building and specialty trade contractors added 23,600 jobs (1 percent) since March and 153,300 jobs (6.7 percent) over 12 months. Nonresidential contractors hired a net of 20,800 workers for the month and 126,100 (3.3 percent) since April 2014.

The number of unemployed construction workers, 652,000, is at the lowest level since 2001. However, Simonson cautioned that reports of construction worker shortages are likely to grow over the coming months. "With construction employment likely to continue to expand for the foreseeable future, labor conditions are likely to get even tighter."

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.