The construction industry added 16,000 jobs in August, with all of the growth concentrated in housing, the Associated General Contractors of America reports.
The infrastructure and nonresidential building construction sector lost 11,000 jobs during the month, according to AGC.
“Construction is becoming a tale of two sectors, as homebuilding and limited nonresidential niches thrive but most other private, as well as public, construction shrinks,” stated Ken Simonson, the association’s chief economist. “These employment numbers are in line with our survey, which found a plurality of construction firms expect it will take more than six months before their volume of business matches year-ago levels.”
The construction industry’s unemployment rate in August was 7.6%, more than double the August 2019 rate of 3.6%.
The full AGC report can be found here.