Construction's unemployment rate posted its second-consecutive monthly decline, as the industry added 14,000 jobs in March, the Bureau of Labor Statistics has reported. BLS's latest monthly employment report, released on May 5, showed that construction's April jobless rate improved to 21.8%, from March's 24.9%. But it remained higher than the April 2009 level of 18.7%. Construction's unemployment rate hit a 10-year peak in February, reaching 27.1%. The industry's rates are not adjusted for seasonal variations, and thus tend to improve as the volume of work rises in the spring and summer and hit bottom in the winter lull. Over all,
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.