US Construction Employment Increases in December

A closer look at the US Bureau of Labor Statistics (BLS) nonfarm payroll report for December, with analysis provided by the National Association of Home Builders (NAHB), shows that overall employment in the construction sector increased by 8,000 jobs in December, following a matching gain in November.

Residential construction gained 4,000 jobs, while nonresidential construction added 4,700.

Residential construction employment now stands at 3.4 million, broken down as 961,000 builders and 2.4 million residential specialty trade contractors, NAHB reported. The 6-month moving average of job gains for residential construction was 3,333 a month. Over the last 12 months, home builders and remodelers added 51,000 jobs on a net basis. Since the low point following the Great Recession, residential construction has gained 1,396,200 positions.

In December, the unemployment rate for construction workers rose to 5.5% on a seasonally adjusted basis. The rate has remained at a relatively lower level, after reaching 15.3% in April 2020 due to the housing demand impact of the pandemic.