July 4, 2014
For six straight months, the U.S. construction industry has added jobs and held tight to its highest employment figures in five years. However, there have been signs of slipping as growth of its workforce slowed considerably in May and fell off even more in June.
During June the industry added 6,000, compared to May’s revised number of 9,000. The original May data from the Commerce Department showed a gain of 6,000 jobs.
Construction now employs 6.015 million Americans, 3 percent higher than the same time one year ago and the highest number seen since June 2009, according to preliminary data.
So far this year, the industry has added an average of 23,167 workers each month.
The industry’s unemployment rate fell for the fourth straight month to 8.2 percent, 1.6 points lower than it was in June 2013.
Meanwhile, the U.S. economy added 288,000 jobs in June while the unemployment rate fell to 6.1 percent—the lowest it has been since September 2008.
Editor’s Note: Wayne Grayson is the online editor for sister site Equipment World.