Construction employment in November totaled 6.95 million jobs, a year-over-year gain of 184,000 jobs or 2.7 percent, nearly twice the rise in total nonfarm employment, according to an analysis of government data by the Associated General Contractors of America.
"Employment and pay in construction have risen more rapidly over the past year than in the economy overall, as the supply of unemployed, experienced workers continues to shrink," said Ken Simonson, the association's chief economist, in a statement. "With unemployment so low overall and in construction, contractors are likely to have increasing trouble filling many types of hourly craft and salaried openings."
The unemployment rate dropped to 5 percent in November compared with 5.7 percent in November 2016. The number of unemployed jobseekers fell to 467,000 in November compared with 517,000 in November 2016.
The average hourly earnings in the industry in November was $29.17, an increase of 2.9 percent from November 2016.
