Construction employment stagnated in August, while the industry unemployment rate fell and a majority of companies reported difficulty finding workers, according to a recent analysis of new government data and an industry survey by the Associated General Contractors of America.
“After a strong rebound in 2012, construction hiring and spending have been stuck in neutral through most of 2013,” said Ken Simonson, the association's chief economist. “Yet the unemployment rate for former construction workers hit the lowest August level in five years, suggesting that experienced workers are leaving the industry rather than returning to it. As a result, firms are already having trouble finding workers.”