Construction December Jobless Rate Rises, Despite Gain of 17,000 Jobs
Basu and Simonson noted that, as of last month, total construction employment was up by 46,000 compared with December 2010's level. Simonson said the industry's 5.5-million employment figure is 0.8% above the year-earlier total, but it is down more than 39% from its 7.7-million peak, reached in April 2006.
On the positive side, December was the 15th-straight month in which construction’s jobless rate was lower than its year-earlier level. On the other hand, construction had the highest unemployment rate among major industries. Agriculture ranked second highest, at 14.3% for December.
The overall U.S. unemployment rate edged downward last month, to 8.5% from November’s mark, which BLS said has been revised to 8.7%. November's mark was originally reported as 8.6%. Those overall rates are seasonally adjusted.
