Slide Show Construction’s unemployment rate edged downward in August, to 17.0% from 17.3% in July, but unemployment in the industry still remains higher than a year ago and more than double the 2008 level, reports the Bureau of Labor Statistics. BLS says construction added 19,000 jobs in August but that 10,000 of those workers were returning to the job following a strike in July. So far, construction’s jobless rate has been higher than last year in every month except July.
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.