Summary
The nonresidential construction sector in March saw its first monthly increase in employment since 2008, gaining 9,400 jobs on a seasonally adjusted basis, according to the April 2 employment report by the U.S. Labor Department. Year-over-year, the nonresidential construction sector has lost 75,600 jobs, or 10.1 percent of the total workforce and industry employment stood at 675,100 in March (see graph below).
Nonresidential specialty trade construction gained 9,400 jobs in March, but year-over-year has lost 302,400 jobs, or 13.2 percent. Heavy and civil engineering construction employment increased by 6,000 jobs in March, but is still down 89,700 jobs, or 10.1 percent, from March 2009.
The residential building construction sector lost 800 jobs in March and lost 86,600, or 12.9 percent, over the past 12 months.
Overall, the construction industry gained 15,000 jobs in March, the first increase since June 2007 but is down 701,000 jobs or, 11.1 percent, year over year. The non-seasonally adjusted unemployment rate for the construction industry was 24.9 percent in March, down from the 27.1 percent unemployment rate in February, but still higher than the 21.1 percent unemployment at the same time last year.
Total employment across all industries increased by 162,000 jobs in March, the first six-digit increase since November 2007. Year-over-year, employment is down by 2,320,000 jobs or 1.8 percent. The unemployment rate stood unchanged at 9.7 percent for a third consecutive month.
For full article,
click here.