With 33,000 net new jobs added to the industry in April, construction unemployment at a record low and other positive signs across the broader economy, a downturn is at bay for at least another year, according to Associated Builders and Contractors’ analyses of Bureau of Labor Statistics data.
The construction industry had 256,000 more jobs last month than March 2018, which represents a 3.5% increase. Last month, the nonresidential sector added 32,400 net positions, the majority of which (22,100) were created by specialty trade contractors. Year over year, that subsector created 114,200 jobs, according to BLS.
