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Construction Employment Helps Fuel Economy

The construction industry unemployment rate has officially surpassed the national unemployment rate. Between April 2014 and April 2015, nearly 300,000 jobs have been created in the construction industry, and the construction industry unemployment rate is the lowest it has been since 2006. April of this year alone brought in more jobs than “any other industry except professional/business services and healthcare.”

The numbers were better than what the construction industry was anticipating. In March, 9,000 jobs were lost, a little under 8,000 jobs just in the nonresidential building field. Researchers believe the small slump was due to the inclement weather seen across the United States during that time.

The strongest numbers in April came from residential building.

“As the weather has warmed and the industry has regained its footing, the need for residential specialty trades boomed last month, just as it did in the commercial sector. Construction employers added 20,800 jobs for residential trades in April—and 112,100 since April 2014, the Bureau of Labor Statistics reported.”

The number of new jobs created has also created a need for qualified workers and “those still hoping to enter the industry to find well-paying positions."

Fortune reported that job openings in construction are growing at a faster pace than unemployment is dropping...Still, the Associated General Contractors in January reported that 87% of construction companies feared they would have trouble filling professional positions and craft worker jobs.”

You can read the full article online at Construction Dive.