US Construction Employment Climbs in March

A closer look at Friday’s Bureau of Labor Statistics (BLS) nonfarm payroll report for March, with analysis from the National Association of Home Builders (NAHB), shows that overall US construction employment rose by 26,000 in March, following a downwardly revised loss of 13,000 in February.

Within the industry, residential construction added 14,300 jobs, while nonresidential construction added 12,200.

As of March, residential construction employment stood at 3.3 million, including 932,000 builders and remodelers and nearly 2.4 million residential specialty trade contractors.

The six-month moving average for job gains in residential construction turned positive, with an average increase of 800 jobs per month. This follows a 14-month stretch of negative readings.

Over the past year, residential construction recorded a net loss of 29,300 jobs, marking the thirteenth consecutive annual decline and the longest stretch of losses since the Great Recession. Since the post–Great Recession low, the sector has added 1,318,200 jobs.

The construction unemployment rate rose to 5.6% in March on a seasonally adjusted basis.