Construction Economics
Construction July Jobless Rate Matches 10-Year Low
Industry also gained 14,000 jobs during the month, BLS says
Construction added 14,000 jobs in July and its unemployment rate continued to fall—to 4.5% from June’s 4.6%—equaling its lowest level in more than a decade, the Labor Dept. has reported.
The federal Bureau of Labor Statistics’ latest monthly employment report, released on Aug. 5, also showed that construction’s July rate improved from the year-earlier mark of 5.5%.
The 4.5% July figure also matched the industry’s lowest monthly level since the beginning of 2006, set in October of that year.
The BLS unemployment rates aren’t adjusted for seasonal variations.
All construction sectors gained jobs last month, seasonally adjusted, paced by specialty trade contractors, whose combined workforces climbed by 9,400.
Buildings construction added 2,800 workers and heavy-civil engineering construction posted an increase of 1,900.
Architectural and engineering services, which BLS categorizes separately from construction, recorded a July jobs gain of 6,500.
The BLS unemployment rates and jobs figures are preliminary.
The U.S. economy added 255,000 jobs in July and the overall unemployment was 4.9%, the same as in June, BLS reported.
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