Dive summary:
- June construction jobs numbers issued by the federal government show that joblessness in the construction industry stood at 9.8% last month, down a full three percentage points from the year before, and 825,000 construction workers were looking for jobs.
- The data always comes with the caveat that unemployment can fall when people give up trying to get construction jobs because the rate is based on people looking for work, but the data still showed that there were 2.4% more people working in construction than there were 12 months ago and that they were putting in an average of 4.7 more hours each week than they were in mid-2012.
- Trade organizations used the data release to renew warnings that the industry will hit shortages of workers and potentially stall the construction rebirth if training programs don't materialize soon.
From the article:
Residential and nonresidential contractors have added workers in nearly equal numbers, {Associated General Contractors of America's chief economist Ken] Simonson observed. ...