Construction's Unemployment Rate Falls to a Six-Year Low
The construction sector added 20,000 new jobs in September after showing little change in the prior six months, according to the latest employment statistics from the Dept. of Labor. Moreover, the unemployment rate in the construction industry fell to a six-year low of 8.5%. Construction employment totaled 5,826,000 in September, which is 3.4% higher than in September 2012. Aggregate weekly hours of all construction employees rose 4.2% over the year, indicating that companies are adding to existing workers' hours in addition to hiring new employees.