Construction Jobless Rate Improves in July
Employment trends in the construction industry continued to improve in July of 2014. According to the Department of Labor, the jobless rate for the construction industry declined from last June’s 8.2% to 7.5% for July - well below the 9.1% reported for July 2013.
They also reported 22,000 new jobs for the industry.
Here is a summary of how different segments of the construction industry performed:
- Specialty trade contractors added 13,900
- Residential buildings added 6,100 jobs
- Heavy-civil engineering construction picked up 2,500.
- Non-residential building lost 400 jobs (the only negative reporting segment in July)
- Architectural and engineering services gained 8,800 jobs.
Ken Simonson, Associated General Contractors of America chief economist, said in a statement,
"While prospects for private construction remain largely favorable, inadequate public investment still threatens to keep too many workers idle."
For more details, you can download a copy of the Bureau of Labor Statistics Press Release here