ABC: Construction employment up in April, year over year

By |  May 6, 2024
Photo:

The construction industry added 9,000 jobs in April, according to an Associated Builders & Contractors (ABC) analysis of U.S. Bureau of Labor Statistics data.

On a year-over-year basis, industry employment has grown by 258,000 jobs, an increase of 3.2 percent.

Nonresidential construction employment increased by 7,800 positions on net, with growth registered in all three major subcategories. Nonresidential specialty trade added the most jobs, growing by 6,600 positions. Nonresidential building and heavy and civil engineering added 900 and 300 jobs, respectively.

“It is really quite remarkable that the nation’s nonresidential construction sector continues to add jobs so consistently in an environment characterized by elevated project financing costs,” says Anirban Basu, ABC chief economist. “At the heart of growing demand for construction workers in America is the prevalence of megaprojects in many parts of the country, including major manufacturing plants, data centers and public works.”

More hiring is on the horizon, Basu adds.

“While there is observable weakness in certain industry segments, particularly in the challenging office market, ongoing spending growth in other construction segments has thus far more than fully countervailed that softness,” he says. “Many megaprojects are just now beginning construction, strongly suggesting a stable U.S. nonresidential construction labor market for months to come. Such considerations are also consistent with relatively rapid increases in construction worker compensation during the balance of 2024.”

Related: ABC: Latest report shows construction job openings are up

Avatar photo

About the Author:

Jack Kopanski is the Managing Editor of Pit & Quarry and Editor-in-Chief of Portable Plants. Kopanski can be reached at 216-706-3756 or jkopanski@northcoastmedia.net.

Comments are closed