The residential construction industry added 3,100 jobs from October to November, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics.
Year-over-year, residential construction industry jobs increased by 1.6% or 52,400 jobs.
Meanwhile, the construction industry as a whole added 10,000 jobs in November and 211,000 jobs over November 2023.
“Economy-wide job gains rebounded in November, confirming October’s paltry job growth was indeed a result of hurricanes Helene and Milton,” ABC Chief Economist Anirban Basu said in a statement. “The combination of relatively cool payroll employment growth over the past three months, combined with a slight uptick in the unemployment rate, increases the odds that the Federal Reserve will cut interest rates again at their December meeting.”
Read the full report here.
