The residential construction industry lost 200 jobs from December 2024 to January, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics.
The construction industry as a whole added 4,000 jobs in January compared with December and increased 2.2% year-over-year, adding 178,000 jobs in 2024.
“Construction hiring has slowed to a crawl since October, with the industry averaging just 6,000 net new jobs per month,” ABC Chief Economist Anirban Basu said in a statement. “This is largely a reflection of weakness in the residential sector, which actually lost 200 jobs in January. Given the ongoing effects of high interest rates and the sharp decline in the number of housing units under construction, residential employment should continue to pull back over the next few quarters.
Read the full report here.
