The construction industry added 8,000 jobs on net in October, 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 expanded by 223,000 jobs, an increase of 2.8%.
The construction unemployment rate rose to 4.2% in October, while unemployment across all industries remained unchanged at 4.1% in October.
“October’s employment report was severely distorted by Hurricanes Helene and Milton,” ABC Chief Economist Anirban Basu said in a statement. “As a result, employers across all industries were estimated to have added just 12,000 jobs, the fewest in any month since the economy lost jobs in December 2020.
Read the full report here.
