Construction employment increased by 24,000 jobs in November to the highest level since November 2008, according to an analysis of new government data by the Associated General Contractors of America. Association officials said that tight margins are keeping firms from paying even more to attract hard-to-find workers, noting that efforts to cut tax rates should help lead to higher average hourly earnings for the sector.
“Employment and pay in construction have risen more rapidly over the past year than in the economy overall, as the supply of unemployed, experienced workers continues to shrink,” said Ken Simonson, the association's chief economist. “With unemployment so low overall and in construction, contractors are likely to have increasing trouble filling many types of hourly craft and salaried openings.”
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