Landscape Architect Articles

Building Industry Job-Growth Accelerates06-10-15 | News

Building Industry Job-Growth Accelerates

Builders added 17,000 jobs in the month of May, as both the residential and non-residential sectors experienced a growth in payrolls.

The construction industry continues to expand, as the latest data show growth in employment in both the residential and nonresidential sectors, according to the latest report from the Associated General Contractors Association.

Construction firms added 17,000 jobs in May 2015. Those firms had 6,370,000 workers on their payrolls in April 2015, compared to 6,387,000 the following month.

Still, the industry has added 273,000 jobs over the past 12 months, and construction employment is at its highest level since February 2009, the latest report shows.

"Construction employers continue to expand headcount as they adjust to growing demand for their services in many parts of the country," said Ken Simonson, the association's chief economist. "Right now the two most likely obstacles to the industry's continued expansion are growing labor shortages and political gridlock that could curtail public sector investments in infrastructure and construction."

Additionally, the industry's unemployment rate fell to 6.7 percent, the lowest rate for the month of May since 2006, the AGCA said, as the private and public sectors are increasing investments in construction services.