Summary
For the first time in six months, the nation’s construction industry added jobs in February. According to the March 4 employment report by the U.S. Labor Department, 33,000 jobs were created. However, on a year-over-year basis, construction employment is down by 24,000 jobs, or 0.4 percent. The construction unemployment rate stands at 21.8 percent – more than twice the national average. However, unemployment is down from 22.5 percent in January and down from 27.1 percent the same time last year.
Hardest hit was the nonresidential building construction sector which lost 2,000 jobs in February, but is up by 3,500 jobs year-over-year as employment in that sector stands at 654,100 jobs (see graph below).
Heavy and civil engineering construction gained 4,500 jobs in February and 26,600 jobs, or 3.3 percent, over the last twelve months. The specialty trade contractor sector added 16,700 jobs for the month and 11,500 jobs, or 0.6 percent, year-over-year. This represents the first year-over-year increase for the sector since June 2008. Residential building construction employment increased by 2,200 jobs in February, but is still down by 20,000 jobs, or 3.4 percent, from the same time last year.
Overall, the nation gained 192,000 jobs in February with 222,000 jobs added in the private sector and 30,000 jobs lost in the public sector. Year-over-year, the nation has added 1,269,000 jobs, or 1 percent. The national unemployment rate now stands at 8.9 percent.