US Residential Construction Employment Rises in February

A closer look at the Bureau of Labor Statistics (BLS) nonfarm payroll report for February, with additional analysis provided by the National Association of Home Builders (NAHB), reveals that employment in the construction sector increased by 19,000, following a 2,000 gain in January.

Residential construction gained 12,700 jobs, while nonresidential employment rose by 6,200.

Residential construction employment now stands at 3.4 million, broken down as 955,000 builders and 2.4 million residential specialty trade contractors. The 6-month moving average of job gains for residential construction was 2,600 a month. Over the last 12 months, home builders and remodelers added 50,500 jobs on a net basis. Since the low point following the Great Recession, residential construction has gained 1,387,000 positions.

In February, the unemployment rate for construction workers rose to 5.3% on a seasonally adjusted basis. The unemployment rate for construction workers has remained at a relatively lower level after reaching 15.3% in April 2020 due to the housing demand impact of the pandemic.