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Demand for Construction Workers Remains High02-12-18 | Economic News

Demand for Construction Workers Remains High
Unemployment Rate Stays at 4.1%

The Associated Builders and Contractors' (ABC) chief economist Anirban Basu said, "America's economy is now firing on many cylinders due to a combination of solid consumer spending growth, accelerating business outlays and stronger exports. All of this ends up translating into demand for construction services, which remains on the rise and continues to trigger strong hiring."

Feb. 2, the U.S. Bureau of Labor Statistics released its Employment Situation Summary.

It states, "Construction added 36,000 jobs in January, with most of the increase occurring among specialty trade contractors (+26,000). Employment in residential building construction continued to trend up over the month (+5,000). Over the year, construction employment has increased by 226,000."

The Associated Builders and Contractors, Inc. say that the demand for construction workers remains strong. This statement coming days after the U.S. Census Bureau gave its annual report on domestic construction spending (https://www.landscapearchitect.com/research/article-a.php?number=29906), which stated that 2017 an overall increase of 3.8% in construction spending.

According to a survey conducted by LCDBM Magazine, 39.08% of landscaping contractors predict that their firm will grow by at least 10% in 2018.