Residential Construction Employment Continued to Grow in October

A closer look at the Bureau of Labor Statistics October’s Employment Situation Report focusing on construction employment reveals that October’s residential construction employment, was 11,500 higher than October 2019. This marks the first year-over-year gain in residential construction employment since the coronavirus pandemic ‘recession of 2020’. In October residential construction employment rose by 23,800 to a total of 2.9 million and is broken down as 835,000 builders and 2.1 million residential specialty trade contractors. Housing remains a bright spot in the economy’s recovery. The total of both residential and non-residential construction in October was 7.3 million.

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Original Source:
THE EMPLOYMENT SITUATION — OCTOBER 2020