Construction employment increased 4.7 percent—by 338,000 jobs—year-over-year in January, according to an analysis by the Associated General Contractors of America.
Totaling 7.46 million, January’s construction employment is the highest since January 2008.
“There has been no letup in demand for construction projects—or workers,” AGC Chief Economist Ken Simonson said in a statement. “Even though the industry added employees at more than double the pace of the overall economy in the past year, the average workweek in construction reached an all-time high, and unemployment in construction hit a series low, indicating that contractors would hire even more workers if they were available.”
Average weekly hours increased to 39.9 in January, the highest number of hours since 2006. Average weekly hours of production and nonsupervisory employees set a record at 40.6 hours, AGC added.
Construction unemployment dropped to 6.4 percent, down from January 2018’s 7.3 percent rate and the lowest since 2000.
Employment grew in 273 out of 385 metros in 2018, and labor shortages likely stifled additional gains, according to AGC.
“Construction employment continued to expand in most parts of the country in 2018 as demand for many types of construction projects grew,” stated Simonson. “As welcome as the job gains were, many firms would likely have added even more workers if labor market conditions were not so tight.”
