U.S. Construction Jobs Decline in March

by Arkansas Business Staff  on Monday, Apr. 16, 2018 12:00 am   1 min read

Construction jobs in the United States fell by 15,000 in March, according to an analysis of data from the U.S. Bureau of Labor Statistics by the Associated Builders & Contractors.

That’s a change from February, when the sector saw 65,000 jobs added, a post-recession high. During the last 12 months, the construction industry has added 228,000 jobs, a 3.3 percent increase.

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“The weak jobs report increases the probability that uncertainty attributable to policy pronouncements emerging from Washington and Beijing can trip up an economic expansion that should be proceeding swimmingly in the context of recently enacted tax reform,” said Anirban Basu, chief economist of the Associated Builders & Contractors, a trade association based in Washington.

“For construction firms in particular, the changing news cycle is not helpful,” he said. “Those who finance construction projects need to be comfortable with the notion that the economy will still be supportive once construction is complete. In other words, the construction industry requires a higher level of stable, persistent confidence to support growth than other industries given the risk that accompanies financing projects and time to build. Confidence is likely dissipating presently.”


Construction Employment Statistics
March 2018

  March 2018 Feb. 2018 March 2017 1 Month Net Change 12 Month Net Change 12 Month Percent Change
Construction 7,150,000 7,165,000 6,922,000 -15,000 228,000 3.3%
Residential Building 782,400 780,000 749,000 2,400 33,400 4.5%
Nonresidential Building 803,700 801,500 781,700 2,200 22,000 2.8%
Heavy & Civil Engineering 1,005,700 1,009,300 991,400 -3,600 14,300 1.4%
Residential Specialty Trade Contractors 2,007,100 2,016,500 1,926,300 -9,400 80,800 4.2%
Nonresidential Specialty Trade Contractors 2,551,200 2,558,000 2,473,300 -6,800 77,900 3.1%

Sources: Associated Builders & Contractors, U.S. Bureau of Labor Statistics



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