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You are at:Home ยป Specialty trade contractors drive construction industry to 25,000 job gain in September
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Specialty trade contractors drive construction industry to 25,000 job gain in September

Machinery AsiaBy Machinery AsiaOctober 4, 2024No Comments2 Mins Read
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Construction employment continues to rise as the industry gained 25,000 jobs in September, the Bureau of Labor Statistics reported.

In its latest monthly employment report, released on October 4, the bureau notes that construction jobs continued their upward trend. BLS says the September figure was “similar” to the average monthly gain of 19,000 over the previous 12 months.

The report also shows that all but one industry segment posted an increase in jobs in September. The largest contribution to the overall increase in construction jobs came from specialty trade contractors, who added approximately 22,800 jobs in total. Nonresidential specialty trade contractors had the strongest results, gaining 17,000 jobs, while residential specialty trade contractors added 5,800 jobs.

Heavy construction and civil engineering registered an increase of 3,800

The outlier was the construction of non-residential buildings, which saw a decline of 2,900 in September. Meanwhile, residential building contractors added an estimated 2,000 positions.

Overall, total construction employment rose by 238,000 in the 12 months ended September, an increase of about 3%.

Anirban Basu, chief economist at Associated Builders and Contractors, noted that September’s industry results represent the fifth monthly increase in construction jobs. In another positive indicator, Basu said in a statement that the figures for the previous two months were revised upwards to a total of 72,000.

“Recruitment should continue in the coming months, with contractors expecting to increase their staffing levels over the next six months,” Basu said. Noting that the US economy gained 254,000 jobs in September, he added: “Beyond the construction sector, this jobs report beat expectations.”

BLS data on construction unemployment rates was somewhat mixed. It shows the September industrial rate was 3.7%, up from 3.2% in August. But the rate was down slightly from 3.8% the previous year

Ken Simonson, chief economist at Associated General Contractors, said in a statement: “The persistently low unemployment rate for job seekers with construction experience and the high level of job openings suggest that the industry would hire even more workers if it could find enough qualified applicants.”

AGC said a separate BLS report, issued Oct. 1, indicated there were 370,000 construction job openings at the end of August, outpacing the 338,000 workers hired for the entire month.

BLS jobs figures are adjusted for seasonal differences; their unemployment rates are not seasonally adjusted.

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