Analysis provided by the Associated General Contractors of America (AGC) of recently release government data reveals that construction employment in October remained depressed compared to pre-pandemic levels in three-fourths of states. This in spite of the fact 36 states and D.C. added new construction jobs in October. AGC officials added that demand for most types of nonresidential projects remains weak amid pandemic-related uncertainty. In prepared remarks that accompanied the analysis AGC chief economist Ken Simonson said, “An increasing number of nonresidential contractors are experiencing cancellations that are forcing them to lay off workers. Although single-family homebuilding and remodeling contractors are adding workers, most states are likely to have a net loss of construction workers soon, especially from high-paying, nonresidential jobs.” Simonson added that seasonally adjusted construction employment in October was lower than in February—the last month before the pandemic forced many contractors to suspend work—in 37 states.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.
Construction Employment Is Down In Three-fourths Of States Since February, Even After 36 States Added Construction Jobs In October