A deeper look into the Bureau of Labor Statistics (BLS) December nonfarm payroll employment report reveals that while total nonfarm payroll employment declined by 140,000 and the unemployment rate held steady at 6.7%, the construction industry sector added new jobs. According to the report the construction sector added 51,000 new jobs in December. With residential specialty trade contractors (+14,000) and residential building (+9,000), two industries that have gained back the jobs lost in March and April. In December, employment also increased in nonresidential specialty trade contractors (+18,000) and in heavy and civil engineering construction (+15,000). Nevertheless, even with the December construction job sector increases employment in the construction sector remains 226,000 below its February 2020 level.
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THE EMPLOYMENT SITUATION — DECEMBER 2020