Economics

Construction employment increased by 38,000 jobs in December and by 280,000 jobs, or 4.0 percent, over the past year, while the industry’s average pay accelerated and unemployment decreased to a historic low, according to an analysis of new government data by the Associated General Contractors of America. Association officials added that most contractors report they plan to continue hiring in 2019, according to the association’s annual outlook that was released earlier this week.

Prices for goods and services used in construction climbed 6.2 percent over the past year, intensifying a cost squeeze on contractors coping with widespread labor shortages, according to an analysis by the Associated General Contractors of America of new Labor Department data.

Forty-five states and the District of Columbia added construction jobs between July 2017 and July 2018, while 29 states and D.C. added construction jobs between June and July, according to an analysis by the Associated General Contractors of America of Labor Department data released today. Association officials cautioned that continued job gains may depend on swiftly implementing new training and education legislation to equip students and workers to enter the industry.

Construction employment increased by 19,000 jobs in July and by 303,000 jobs over the past year, reaching a 10-year high, while the industry’s unemployment rate and level hit an all-time low, according to an analysis of new government data by the Associated General Contractors of America. Association officials said it was likely firms would have added even more workers if they could find qualified candidates to hire.