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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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May Construction Unemployment Rates Improve in 46 States from 2015

WASHINGTON, D.C., June, 28—Construction unemployment rates improved in 46 states and the nation in May on a year-over-year basis according to analysis of Bureau of Labor Statistics data released today by Associated Builders and Contractors. The May national not seasonally adjusted (NSA) construction unemployment rate of 5.2 percent was 1.5 percent lower than a year ago while the industry employed 213,000 more people than in May 2015.

March Construction Unemployment Rates Improve in 30 States from 2015

The March not seasonally adjusted (NSA) construction unemployment rates for the country and 30 states were lower than in March 2015, according to analysis by economist Bernard Markstein released today by Associated Builders and Contractors. March’s 0.8 percent decrease from a year ago marked five and a half years of consecutive monthly year-over-year rate declines. Meanwhile, March national NSA employment in construction was 298,000 higher than in March 2015.

February Construction Unemployment Rates Improve in 41 States from 2015

Temperatures remained above normal for much of the country in February. However, precipitation rates were also above normal for much of the East and below normal for much of the West and parts of the South. These factors contributed to the not seasonally adjusted (NSA) construction unemployment rates for the nation maintaining a low February rate of 8.7 percent, a slight rise from January’s similarly low 8.5 percent rate. It was also the second lowest February national construction
unemployment rate going back to the beginning of the series in 2000, surpassed only by the 8.6 percent rate in February 2006.

January Construction Unemployment Rates Improve in 43 States from 2015

Unusually mild weather in much of the country continued into the first part of January but ended for the East near the end of the month with the brutal storm dubbed “Snowzilla.” The storm did not hit until after the reference week used for surveying employment and unemployment. This undoubtedly helped to temper the normal rise in the not seasonally adjusted (NSA) construction unemployment rates for the nation, which rose from a relatively low December rate of 7.5 percent to 8.5 percent in January. This is the lowest January national construction unemployment rate going back to the beginning of the series in January 2000.

December Construction Unemployment Rates Improve in 32 States from 2014

Unusually mild weather in much of the country persisted in December benefiting construction and reducing the size of the normal seasonal increase in construction unemployment rates. December marked the warmest, or one of the warmest, Decembers on record for most cities in the eastern half of the country. Not seasonally adjusted (NSA) construction unemployment rates for the country and 32 states were lower than in December 2014. The construction unemployment rates for three states—Illinois, Minnesota and Nebraska—were unchanged from a year ago.

November Construction Unemployment Rates Improve in 37 States from 2014

Unusually mild weather in much of the country coupled with general improvement in the nation’s economy benefited construction and consequently construction unemployment rates in November. Not seasonally adjusted (NSA) construction unemployment rates for the country and 37 states were lower than in November 2014. As of November, year-to-date seasonally adjusted (SA) employment in construction increased by 215,000 in the U.S. Meanwhile, NSA construction jobs nationally increased by 267,000 from November 2014 to November 2015.

October Construction Unemployment Rates Improve in 30 States from 2014

October was another positive month for construction and construction unemployment rates around much of the country. Year-over-year, not seasonally adjusted (NSA) construction unemployment rates for the country and 30 states were lower in October this year. Year to date, construction has added 159,000 seasonally adjusted (SA) jobs throughout the country. Meanwhile, NSA jobs nationally increased by 228,000 from October 2014 to October 2015. Additionally, SA construction spending in October increased 1 percent from September according to theCensus Bureau’s Dec. 1 release. Year-to-date NSA construction spending as of October was up 10.7 percent.

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.