Friday, March 6, 2020
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CONSTRUCTION EMPLOYMENT INCREASES BY 42,000 IN FEBRUARY AND 223,000 OVER 12 MONTHS AS INDUSTRY’S UNEMPLOYMENT RATE SETS NEW LOW FOR FEBRUARY
Average Hourly Earnings in Construction Top Private Sector Average by 9.9 Percent as Construction Firms Continue to Boost Pay and Benefits in Effort to Attract and Retain Qualified Hourly Craft Workers
Construction employment increased by 42,000 jobs in February and by 223,000 or 3.0 percent over the past 12 months, as the industry’s unemployment rate hit a new February low, according to an analysis of new government data by the Associated General Contractors of America. Association officials said some of the gains were attributable to mild winter weather in many parts of the country last month but added that the main reason for the gains was strong demand for construction services.
“Contractors are off to a fast start in 2020, adding 91,000 jobs in the first two months—the most in nearly two years,” said Ken Simonson, the association’s chief economist. “Although some of the gains probably reflect unusually mild winter weather in much of the nation, there is no question that contractors have been upbeat about the volume of work available.” read more: AGC News March 6 2020