The construction industry lost 7,000 jobs between February and March, following a similar decline of 6,000 the month before, but extended a pattern of modest year-over-year job increases, according to an analysis of new federal employment data released today by AGC. Association officials said that lack of long-term federal highway and transit funding threatens to hold down future job gains.
“Both the small monthly change and the March-to-March gain of 55,000 jobs or 1 percent are consistent with the uneven, tentative recovery that contractors have been reporting nationwide,” said Ken Simonson, AGC’s chief economist. He noted that March was the seventh consecutive month that construction employment had risen from the same month a year earlier. “Meanwhile, the industry’s unemployment rate has been dropping faster than the pickup in construction jobs, implying that workers are leaving the industry, which could cause problems later,” he said.
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