Nearly half of state construction unemployment rates declined in September compared with September 2023, according to a state-by-state analysis of U.S. Bureau of Labor Statistics data.
During this period, 24 states reported lower construction unemployment rates, 22 states reported higher rates and four states remained unchanged.
“Construction employment continues to grow, reflecting the overall strength in the economy,” Markstein Advisors Chief Economist Bernard Markstein said in a statement. “Construction activity and employment will be aided by lower interest rates as the Federal Reserve eases its monetary stance.”
Month-over-month, the national construction unemployment rate increased 0.5% in September. On the state level, South Dakota had the lowest unemployment rate—1.1%—in September, while Rhode Island had the highest unemployment rate—11.3%—in September.
Read the full report here.
