Dive summary:
- The construction industry appears unable to catch enough good wind to fill its sails. Federal employment numbers for September showing that it added 5,000 jobs, but still had an increase in unemployment.
- Associated General Contractors of America analyzed the data for the industry within the monthly U.S. employment report and calculated that the unemployment rate was up to 11.9% even though the overall jobless rate declined from 8% to 7.8%. The new hires made up only half of the drop in employment since September 2011.
- The big loss was in nonresidential construction, which put on 1,100 more workers last month, but stands 12,400 down from a year ago.
From the article:
Construction employers added 5,000 jobs in September while the industry’s unemployment rate hit 11.9 percent, according to an analysis of new federal data released today by the Associated General Contractors of America. ...