ABC: Construction Adds Jobs in June

Constructionindustryemploymentincreasedby23,000in June, according to an Associated Builders and Contractors analysis of data released July 7 by the U.S. Bureau of Labor Statistics. Industry employment has risen by 198,000 jobs since June 2022, an increase of 2.6 percent, to 7.947 million.

Nonresidential construction employment rose by 12,200 positionsonnet,withpositivegrowthintwoofthethreesubcategories. Heavy and civil engineering added 7,300 positions, while nonresidential building added an additional 5,400 jobs. Nonresidential specialty trade contractors lost 500 jobs on net.

The construction unemployment rate increased to 3.6 percent.Unemploymentacrossallindustriesdecreasedfrom3.7 percent in May to 3.6 percent in June.

“Theorysuggeststhattheroughly500-basispointincrease in the federal funds rate over the past year would weigh on thedemandforconstructionworkers,yettheindustrycontinues to add thousands of jobs each month,” said ABC Chief Economist Anirban Basu. “Contractors have collectively added jobs in 15 of the past 16 months, and ABC’s Construction Confidence Index suggests they will continue to increase staffing levels through the remainder of the year.

“TheJunejobsreport,alongwithyesterday’sJOLTSdata, confirm that labor shortages will continue to provide a stiff headwind to hiring,” said Basu.

For more information, visit abc.org. 

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