Construction Unemployment Drops to 10.8%, Lowest May Mark in 5 Years

Construction employment increased by 7,000 in May, helping to push the industry’s unemployment rate down to the lowest May level in five years, according to an analysis of new government data by AGC of America. Association officials said the relatively positive jobs report for the sector underscores the need to address potential shortages of skilled workers. "Although the monthly job gain in May was modest, both residential and nonresidential construction have been adding workers at roughly double the rate of the overall economy in the past year," said Ken Simonson, the association’s chief economist. "At the same time, formerly unemployed construction workers are finding jobs in other sectors, retiring or going back to school. These conditions may lead abruptly to worker shortages in parts of the industry, such as welders and pipefitters."