Recently released analysis from Associated Builders and Contractors (ABC) shows that April鈥檚 not seasonally adjusted (NSA) construction unemployment rates were down in 22 states and unchanged in two on a year-over-year basis.
That translates into 11,000 new national construction jobs on a seasonally adjusted basis in May. Nonresidential construction added 4,400 net new jobs in May while the residential sector added 7,100 net jobs for the month.
Bernard M. Markstein, Ph.D., president and chief economist of Markstein Advisors, who conducted the analysis for ABC, feels the results are just part of the bigger picture, 鈥淔urther evidence of the construction industry鈥檚 economic health can be found in the 160,000 more workers employed in the industry compared to April 2016.鈥�
Top Ten States with Lowest Estimated NSA Construction Unemployment Rates
(Ranked lowest to highest)
- Massachusetts
- Colorado
- Hawaii
- New Hampshire
- Virginia
- Utah
- Vermont
- South Carolina
- Delaware
- Georgia
Top Ten States with the Highest Estimated NSA Construction Unemployment Rates
(Ranked highest to lowest)
- Alaska
- North Dakota
- Illinois
- Montana
- New Mexico
- Alabama
- West Virginia
- Pennsylvania
- Rhode Island
- Wisconsin
More Good News
According to the U.S. Census Bureau, construction spending totaled $1.219 trillion at a seasonally adjusted annual rate in April 2017, which is down 1.4% from March but up 6.7% y/y from April 2016. Plus, the Construction/CM Staff Salary Survey of 311 companies found that contractors are projecting construction staff wages will increase an average of 3.4% 鈥� as reported in PAS, Inc.鈥檚 June Contractor Compensation Quarterly.
