Southwest Construction Industry Continues To Show Signs of Growth
Construction jobs are continuing to be added throughout the southwest as unemployment rates continue to drop throughout the three state region. New Mexico, Arizona and Nevada all currently have unemployment rates of less than 7 percent and in Arizona’s case, that number is below 6 percent. Nevada and Arizona have both added jobs in the construction sector when compared to last year. New Mexico showed a minimal loss, but has started an upward trend in recent months. All three states are following similar trends throughout the U.S.: Nationally, unemployment rates are down 0.8 percent from this time last year according to data provided by the U.S. Bureau of Labor Statistics. All three of Nevada’s major metro areas have an unemployment rate of less than 7 percent according to numbers provided by the Nevada Department of Employment, Training and Rehabilitation, or DETR. “This is the first time since 2008, that all three metro areas have seen an unemployment rate less than 7 percent,” said Bill Anderson, chief economist for DETR. The construction industry has seen significant growth in those metro areas over the past year, specifically in Las Vegas, where the construction has shown an increase of 6,200 jobs when compared to May of last year according to the Nevada Department of Employment, Training and Rehabilitation. That number represents a 14% increase overall. Reno saw a 1.8 percent decrease in the construction sector over that same one year period, losing 200 construction jobs according to the report. The outlook has improved month-over-month compared to April. The unemployment rate in the Reno metropolitan area is still under 7 percent. The construction sector in Arizona added 700 jobs over-the-month from April to May according to numbers provided by the Arizona Department of Administration. This represents a 0.5 percent increase over-the-month. The construction sector has seen a 2.1 percent increase over-the-year as well according to the report. The construction industry is mirroring what is going on in Arizona’s job market in general, as the state's seasonally adjusted unemployment rate dropped an additional two-tenths of a percentage point from 6.0% in April to 5.8% in May according to the Arizona Department of Administration. The unemployment rate has dropped at least 0.2 percent for three straight months now. Year-to-year, 2,600 jobs have been gained in the construction sector throughout the state according to the Arizona Department of Administration. The construction sector continued to show signs of growth throughout New Mexico, adding 1,100 jobs from April to May according to numbers provided by the New Mexico Department of Workforce Solutions. Though, the construction sector is down 400 jobs from this time last year, according to the report. New Mexico’s unemployment rate remained steady over-the-month but it is down 6.7 percent over-the-year according to the New Mexico Department of Workforce Solutions. The state added a total of 8,200 jobs, according to the report.Nevada
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