Construction employment growth for October 2014 ABC

Construction employment growth for October 2014.

Nonresidential construction employment falls, other construction jobs on the rise

The U.S. lost 1,900 nonresidential construction jobs in October, according to the Bureau of Labor Statistics. Associated Builders and Contractors Chief Economist Anirban Basu said this data is a “bit disappointing," but there is room for positivity.

The U.S. lost 1,900 nonresidential construction jobs in October, according to the Bureau of Labor Statistics. However, there were 12,000 U.S. construction jobs added over the course of the month.

 

Construction employment growth for October 2014.
Construction employment growth for October 2014.

On Contractor Magazine’s website, Associated Builders and Contractors Chief Economist Anirban Basu said this data is a “bit disappointing,” as the numbers suggest a slowing of expansion. However, there is some positivity from this months report, he explains:

 

"Despite disappointing monthly nonresidential numbers, the data remain positive on a year-over-year basis," said Basu. "The construction unemployment rate declined meaningfully in October, indicating that part of the lack of job growth may be attributable to growing difficulties securing skilled talent. This, in combination with ongoing malaise in public sector construction spending, is likely at the heart of October's disappointing nonresidential construction employment figures."

 

Visit Contractor’s website for more information or ABC’s website to view last month’s report.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish