Economics Construction Unemployment Rate Declines to 12.8% The construction industry's June unemployment rate declined to 12.8% from May's 14.2% as the industry gained 2,000 jobs, the Bureau of Labor Statistics has reported. The latest BLS monthly statistics also showed that construction's jobless rate last month was down significantly from the June 2011 level of 15.6%. Ken Simonson, Associated General Contractors chief economist, says that, even counting the jobs gained last month, total construction employment "has essentially been stagnant for much of the past two years," hovering around 5.5 million. Simonson notes that, since 2010, about 750,000 workers have left the
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.