In a sign of positive news, the nation’s construction industry added 8,000 jobs last month, according to the August 5 employment report by the U.S. Labor Department. Over the past twelve months, the construction industry has added 32,000 jobs, and the unemployment rate now stands at 13.6 percent compared to 15.6 percent in June.
The nonresidential building construction sector added 2,100 jobs for the month and 4,900 jobs from the same time last year, with employment standing at 662,700 (see graph below).
Specialty trade contractor employment grew by 7,600 jobs in July and has added 13,800 jobs, or 0.4 percent, since July 2010. Heavy and civil engineering construction employment slipped by 400 jobs for the month, but has added 21,000 jobs, or 2.5 percent, year-over-year. In contrast, the residential building construction sector lost 1,100 jobs in July and has lost 8,000 jobs, or 1.4 percent, over the past twelve months.
Overall, the nation added 117,000 jobs in July with the private sector adding 154,000 jobs and the public sector losing 37,000 jobs. Year-over-year, the nation has gained 1,258,000 jobs, or 1.0 percent. The national unemployment rate remains virtually unchanged from the previous month and now stands at 9.1 percent.