Construction Industry Gains 11,000 Jobs in July as Jobless Rate Falls
Construction’s unemployment rate dropped in July on a monthly and year-over-year basis to its lowest level in 17 months, as the industry added 11,000 jobs, the Bureau of Labor Statistics has reported.
But the latest monthly BLS report on the nation’s employment picture, released on Aug. 6, also showed job losses in some parts of the industry’s nonresidential sector.
Construction’s unemployment rate for July declined to 6.1% from June’s 7.5%. Last month’s rate also improved sharply from the year-earlier level of 8.9%, BLS figures show.
July’s rate was the lowest since February 2020’s mark, the last month before the Covid-19 pandemic hit. Notably, construction’s July jobs increase followed three months of downturns.
The residential building category recorded the strongest July jobs results, adding 8,300.
The nonresidential sector overall was up by 2,900 positions, but a gain of 7,500 in the nonresidential specialty trade contractors segment masked declines of 2,500 in nonresidential building and 2,100 in heavy and civil engineering construction.
For the 12 months ended July 31, construction overall added 224,000 jobs, an increase of 3.1%, BLS data indicate.
The bureau’s jobs figures are adjusted for seasonal differences, but its unemployment rates are not seasonally adjusted.