The Bureau of Labor Statistics recently released its April jobs report, revealing that employment in the construction industry increased by 5,000 jobs (seasonally adjusted). While the economy added 211,000 jobs, total specialty trade employment contracted nominally, shedding 1,500 positions in April.
“While the country’s employment report is promising, the Construction Employers of America is concerned that specialty trade construction employment may be stagnating,” said Jack Jacobson, spokesperson for CEA. “Immediate action by Congress and the Administration on tax reform, repatriation of foreign corporate assets to domestic investment pools, and a public construction infrastructure package will shore up employment in the specialty construction sector and keep employment growing across the country.”
The BLS report did have a bright spot for the specialty construction industry as total residential and nonresidential specialty construction employment is up by 127,000 positions over the same point in 2016. April’s loss of 5,100 nonresidential specialty construction jobs serves as a warning and should spur policymakers to take immediate action.
“Our construction firms stand ready to rebuild America,” continued Jacobson. “CEA members continue to invest in workforce development, training, and robust apprenticeship programs to prepare the next generation of blue collar workers to build critical infrastructure. Federal action today will drive further job growth and employ more Americans that will strengthen the middle class for years to come.”
Related Stories
K-12 Schools | Feb 29, 2024
Average age of U.S. school buildings is just under 50 years
The average age of a main instructional school building in the United States is 49 years, according to a survey by the National Center for Education Statistics (NCES). About 38% of schools were built before 1970. Roughly half of the schools surveyed have undergone a major building renovation or addition.
MFPRO+ Research | Feb 27, 2024
Most competitive rental markets of early 2024
The U.S. rental market in early 2024 is moderately competitive, with apartments taking an average of 41 days to find tenants, according to the latest RentCafe Market Competitivity Report.
Construction Costs | Feb 22, 2024
K-12 school construction costs for 2024
Data from Gordian breaks down the average cost per square foot for four different types of K-12 school buildings (elementary schools, junior high schools, high schools, and vocational schools) across 10 U.S. cities.
Student Housing | Feb 21, 2024
Student housing preleasing continues to grow at record pace
Student housing preleasing continues to be robust even as rent growth has decelerated, according to the latest Yardi Matrix National Student Housing Report.
Architects | Feb 21, 2024
Architecture Billings Index remains in 'declining billings' state in January 2024
Architecture firm billings remained soft entering into 2024, with an AIA/Deltek Architecture Billings Index (ABI) score of 46.2 in January. Any score below 50.0 indicates decreasing business conditions.
Multifamily Housing | Feb 14, 2024
Multifamily rent remains flat at $1,710 in January
The multifamily market was stable at the start of 2024, despite the pressure of a supply boom in some markets, according to the latest Yardi Matrix National Multifamily Report.
Student Housing | Feb 13, 2024
Student housing market expected to improve in 2024
The past year has brought tough times for student housing investment sales due to unfavorable debt markets. However, 2024 offers a brighter outlook if debt conditions improve as predicted.
Contractors | Feb 13, 2024
The average U.S. contractor has 8.4 months worth of construction work in the pipeline, as of January 2024
Associated Builders and Contractors reported today that its Construction Backlog Indicator declined to 8.4 months in January, according to an ABC member survey conducted from Jan. 22 to Feb. 4. The reading is down 0.6 months from January 2023.
Industry Research | Feb 8, 2024
New multifamily development in 2023 exceeded expectations
Despite a problematic financing environment, 2023 multifamily construction starts held up “remarkably well” according to the latest Yardi Matrix report.
Market Data | Feb 7, 2024
New download: BD+C's February 2024 Market Intelligence Report
Building Design+Construction's monthly Market Intelligence Report offers a snapshot of the health of the U.S. building construction industry, including the commercial, multifamily, institutional, and industrial building sectors. This report tracks the latest metrics related to construction spending, demand for design services, contractor backlogs, and material price trends.