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Associated Builders and Contractors' (ABC) state-level data series includes an annual breakdown of construction’s contribution to each state’s gross domestic product in addition to monthly updates on state-level construction unemployment. The monthly state employment data are analyzed by Dr. Bernard Markstein and will be released each month according to this schedule.

For media inquiries, contact Donna Reichle, reichle@abc.org.

Posts Tagged 'state construction economics'

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August Construction Unemployment Rates Improve in 45 States from 2014

Nationally, the construction employment picture has continued to improve from last year. The not seasonally adjusted (NSA) construction unemployment rates for the country and 45 states were down in August on a year-over-year basis. For the first eight months of the year, construction added 113,000 seasonally adjusted (SA) jobs. At the same time, NSA jobs increased by 221,000 from August 2014 to August 2015.

July Construction Unemployment Rates Improve in 48 States from 2014

Overall employment and construction employment improved nationally in July on a seasonally adjusted (SA) basis. Meanwhile, as would be expected, not seasonally adjusted (NSA) construction employment increased from June. This resulted in 43 states posting a monthly decline in their estimated NSA construction unemployment rate.

Private Construction Industry’s Importance to State Economies

As noted in The Importance of Construction to State Economies, the importance of the construction industry to the national and state economies stretches beyond the direct impact of construction activity. The U.S. economy benefits from purchases related to, but not directly included in, construction projects, such as equipment for a new factory, furniture for an office or residential property, and appliances for commercial and residential units. Based on conservative estimates, these additional purchases add at least 2 percent to 3 percent to the impact of the construction industry on the economy.

June Construction Unemployment Rates Improve in 45 States from 2014

Construction employment stalled nationally on a seasonally adjusted (SA) basis in June. However, as expected, not seasonally adjusted (NSA) employment increased from May. The result was that 38 states experienced a decline in their estimated NSA construction unemployment rate.

Construction Unemployment Rates Improve in 40 States in May

The non-seasonally adjusted construction unemployment rate for the country and 40 states declined in May, while the rate for one state (South Carolina) remained unchanged from April. Today’s report provides further evidence that construction and the broader U.S. economy appear to have rebounded from the unusually brutal winter. On an annual basis, construction unemployment rates for 44 of the 50 states fell in May 2015 compared to May 2014. The construction unemployment rate for two states—North Dakota and Utah—were unchanged.

Year-over-year Construction Unemployment Rate Falls in 41 States

March, as is to be expected, provided better weather than February, though some parts of the country were hit with severe storms, including spring snow storms. This resulted in a monthly decrease in the March not seasonally adjusted (NSA) construction unemployment rate for the country and in the estimated construction unemployment rates for 43 states.

February Construction Unemployment Down in 44 States Year-Over-Year

Bad weather often typifies February across much of the country and this February’s weather was particularly harsh. The not seasonally adjusted (NSA) construction unemployment rate for the country often peaks around February and the nation appears to be on track for that pattern this year. The February construction unemployment rate for the country along with estimated rates for 34 states increased over their respective January rates.

Background on State Construction Unemployment Rates

Measuring employment and unemployment would seem to be straightforward. However, it turns out to be a little more complicated than it first appears. The Bureau of Labor Statistics (BLS) produces the employment statistics for the United States based on a monthly survey conducted by the Census Bureau known as the Current Population Survey (CPS).

State Construction Unemployment Rates January Data Update

The construction industry has shown evidence of recovery and appears to be on a mild upward trajectory despite occasional backsliding. In 2014, construction spending for all the major areas rose faster than the rise in construction costs. Last year also marked the fourth year in a row that construction employment grew and the largest annual advance in construction employment since 2005.

State Construction Unemployment Rates December 2014

The national construction unemployment rate has generally reflected the fortunes of the construction industry. The national construction unemployment rate fell from 2004 through 2006 then began to rise in 2007 and jumped sharply in 2008 and 2009. Since 2010, there has been a slow, gradual improvement. December’s 8.3% unemployment rate is the lowest December rate since 2005’s 8.2% rate.