Construction Unemployment Rate Falls

September 7, 2012

Construction employers added 1,000 jobs in August while the industry's unemployment rate fell to 11.3 percent, according to an analysis of new federal data released today by AGC.

The unemployment declines come as the construction industry continues to shrink, association officials noted, adding that over 214,000 workers have left the industry since August 2011.

"While we all breathe a sigh of relief any time the sector adds jobs, these numbers are hardly cause for celebration," said Stephen E. Sandherr, the AGC's CEO. "If it wasn't for the fact that the housing sector is finally on the mend, construction employment would be heading in the wrong direction."

Despite the monthly gains, the sector's overall employment levels are essentially unchanged from a year earlier, Sandherr noted. He said that industry employment in August was only 17,000, or 0.3 percent, higher than one year earlier. There are now 5.5 million construction workers employed across the country compared to the peak levels of 7.7 million the industry hit back in 2006, Sandherr added.

Source: AGC