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.
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.