Dive Brief:
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The construction industry added 20,000 in August, boosting employment in the industry to a five-year high.
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Construction jobs are being created at twice the rate of total nonfarm employment, according to a survey released Friday by Associated General Contractors. The jobs were created across the residential, commercial and heavy construction sectors, the report found.
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At the same time, unemployment among builders and crews fell to 7.7%, the lowest in seven years.
Dive Insight:
The combination of robust job creation and low unemployment means contractors are having a hard time hiring. In fact, the number of experienced construction workers looking for work fell in August to its lowest point since 2007. Since then, many builders have had to delay or turn away projects because they couldn’t staff up.