Construction Industry Keeps Hiring, So Rates Continue Rising
The construction industry added 1,000 jobs on net in October, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has risen by 266,000 jobs, an increase of 3.6%.
Nonresidential construction employment increased by 300 positions on net, with growth in only one of the three subcategories. Nonresidential building added 3,200 net new jobs, while nonresidential specialty trade and heavy and civil engineering lost 2,500 and 400 jobs, respectively.