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Construction Unemployment Drops to 15.6% in June

Jul 26, 2011 3:44 PM

Despite a loss of 9,000 jobs in June, the construction industry unemployment rate dropped to 15.6% — the lowest level since December 2008 — according to the July 8 employment report by the U.S. Labor Department. Meanwhile, the construction industry has added 2,000 jobs compared to the same time last year.

The nonresidential building construction sector lost 400 jobs in June and was flat year-over-year with employment standing at 657,300. The residential building construction sector shed 1,500 jobs for the month and has lost 15,900 jobs, or 2.8%, from the same time last year. Specialty trade contractor employment fell by 5,300 from May and 4,900 jobs, or 0.1%, from June 2010. The heavy and civil engineering construction sector shed 1,800 jobs for the month, but has added 23,000 jobs, or 2.8%, compared to the same time last year.

Across all nonfarm industries, the nation added a deeply disappointing 18,000 jobs in June, far short of the consensus expectation of a 125,000 monthly job increase. Year-over-year, nonfarm employment has expanded by 1,036,000 jobs or 0.8%. Private industries added 57,000 jobs in June and have added 1,695,000 jobs, or 1.6%, since the same time last year. Government employment shrunk by 39,000 jobs for the month and 659,000 jobs, or 2.9%, year-over-year. Overall, the nation’s unemployment rate rose to 9.2% in June

To read the full press release, including a graph and analysis, visit http://www.abc.org/Hot_Links/ConstructionEconomicsIndex/Employment_July_2011.aspx.

Source: The Associated Builders and Contractors

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