Led by nonresidential contractors, the construction industry increased its hiring pace during September, and the overall unemployment rate fell to 3.4%.

Residential segments continue to show gains despite higher interest rates.

The construction industry posted across-the-board jobs gains in all sectors to add an estimated 32,000 positions overall in June. But how long will it last? 

Specialty trade contractors added the biggest boost to construction jobs in the month of June, with 11,800 new positions overall.

Industry jobless rate also improves on monthly and year-over-year basis, BLS reports.

Job losses in nonresidential segments outpaced gains in residential sector.

Totals pulled down by loss of 11,800 jobs in nonresidential specialty trade firms.

An AGC and Procore analysis of more than a full year of worker-hour data shows construction employment recovering but not yet to pre-pandemic levels.

Specialty trade contractors saw the greatest job losses while the industry jobless rate worsened on monthly, year-over-year measures.

As the U.S. economy contracts, the unemployment rate in construction jumped from 4.7% in April 2019 to 16.6% this April.