Construction's unemployment rate continued its downward trend in June, falling to 15.6% from May's 16.3%, the Bureau of Labor Statistics reported. Last month's rate also was significantly better than the June 2010 level of 20.1%. The latest monthly BLS unemployment report, released on July 8, also had some discouraging numbers for construction, however. Construction lost 9,000 jobs in June on a seasonally adjusted basis and its jobless rate was still the highest among major U.S. industries. Nearly all construction segments posted job losses in June. The exception was nonresidential specialty trade contractors, which recorded a gain of 3,100. The largest
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.