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February Construction Jobs Maintain Slow Upward Trend03-19-14 | News
February Construction Jobs
Maintain Slow Upward Trend






The construction industry workforce totaled 5.94 million in February, the highest total in 4???(R)???AE? years and an increase of 152,000 (2.6 percent) from a year earlier. Unemployment decreased from 15.7 percent to 12.8 percent, the lowest February rate since 2008, in large part because of workers leaving the industry. Construction analysts are predicting that the shortage of skilled workers could negatively impact growth through the rest of the year.
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Construction employers added 15,000 workers to payrolls in February despite harsh winter working conditions, raising industry employment to the highest level since June 2009. Construction employment totaled 5,941,000 in February, according to government data analyzed by the Associated General Contractors of America (AGC).

Among industry segments, residential construction employers led the way with the addition of 1,700 workers in February and 101,200 (4.8 percent) over 12 months. Nonresidential construction has added 12,700 employees since January and 50,600 (1.4 percent) since February 2013.

"The rate of construction hiring has outpaced job growth in the overall economy for the past year," said Ken Simonson, the association's chief economist. "During that time, all construction segments have added workers."

The unemployment rate for workers actively looking for jobs and last employed in construction declined from 15.7 percent a year earlier to 12.8 percent last month, the lowest February rate since 2008. Simonson noted that the unemployment rate for construction workers had fallen by more than half since February 2010, when it reached 27.1 percent. During that time, the number of unemployed workers who last worked in construction declined by 1.34 million, but industry employment increased by only 438,000.

"While demand for construction employees is rising at a healthy clip, workers are still leaving the industry faster than they are being hired, a dynamic that may result in widespread worker shortages in the near future," Simonson said. "In the past four years, nearly a million experienced workers have left the industry for jobs in other sectors, retirement or school. They are no longer available for immediate recall to construction jobs."

Two-thirds of construction firms responding to a recent AGC survey reported a hard time finding enough qualified workers to fill vacant positions, officials said.

"Unless we find a way to get more students to consider and train for careers in construction, many firms will get to a point where they don't have enough workers to keep pace with demand," said Stephen E. Sandherr, the association's chief executive officer. "The last thing the hard-hit construction industry needs is to be unable to take advantage of increasing demand because of the decreasing supply of available workers."








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