Construction jobless rate increases in September

The U.S. construction industry unemployment rate in September rose to 11.9 percent, five-tenths of a point higher than the previous month.

Last month's jobless rate, however, was down from 13.3 percent in the same month last year, according a news release from Associated Builders and Contractors Inc., a national trade association representing roughly 22,000 merit shop construction and construction-related firms.

“While the nation has added 1.8 million jobs during the past 12 months, the construction industry has lost 5,000 jobs," ABC Chief Economist Anirban Basu said in the release. "Construction starts remain weak, and it is unlikely we will see acceleration in nonresidential construction spending any time soon."

September employment statistics within the U.S. construction industry:

• The nonresidential sector added 1,100 jobs during the month but has lost 12,400 jobs during the past year. The residential building sector also added 1,100 jobs last month, and it has added 3,200 jobs since September 2011.
• Though nonresidential specialty trade contractors added 1,500 jobs in September, the sector has lost 30,000 jobs during the past year.
• Heavy and civil engineering contractors lost 200 jobs in September but have added 14,600 jobs since September 2011.

Last week, the U.S. Bureau of Labor Statistics reported the national unemployment rate in September dropped to 7.8 percent, the first time it has been below 8 percent since January 2009.

[[In-content Ad]]