Construction Employment and Spending Levels Hit Three-year High

Revised government data issued today show the construction industry is contributing substantially to economic and employment growth, according to an analysis by the Associated General Contractors of America. Association officials noted that construction employment rose for the eighth consecutive month in January, while construction spending in December increased for the ninth month in a row. Both totals were the highest levels in more than three years. “The new employment data show the industry lost even more jobs in the recession than previously estimated but has added almost 300,000 jobs in the past two years, including nearly 100,000 since September,” said Ken Simonson, the association’s chief economist. “Meanwhile, the steady rise in construction spending since last March suggests contractors will be hiring even more workers in the months ahead.” Read the full press release here.