The construction industry added 39,000 jobs on net in March, according to an Associated Builders and Contractors analysis of data by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 270,000 jobs, an increase of 3.4%.
The construction unemployment rate fell to 5.4% in March, while unemployment across all industries declined from 3.9% in February to 3.8%.
“Today’s release was a blockbuster jobs report and indicates that recession is not arriving anytime soon,” said ABC Chief Economist Anirban Basu. “The 39,000 jobs added by the nation’s construction segment was roughly twice the monthly growth observed over the past year. If one focuses purely on nonresidential construction, monthly job growth was nearly 80% faster than the one-year average."
The complete report from ABC can be found here.
