Skip to main content

Construction Employment Up in May

Jun 09, 2017
Ed Brady, a Bloomington, Ill.-based builder and developer who served as the 2016 Chairman of the National Association of Home Builders (NAHB), has been named President and CEO of the Home Builders Institute (HBI), the non-profit Ed Brady, a Bloomington, I

Construction employment increased by 11,000 jobs in May to the highest level since October 2008, according to a new data analysis from the Associated General Contractors of America.
 
Residential construction—comprising residential building and specialty trade contractors—added 7,100 jobs in May and 191,000, or 4.7 percent, over the past 12 months. Nonresidential construction (building, specialty trades, and heavy and civil engineering construction) employment increased by 4,400 jobs in May and 71,300, or 1.7 percent, over 12 months. Construction employment totaled 6,881,000 in May, a gain of 11,000 from the April total and an increase of 191,000 or 2.9 percent from a year ago. But even with these increases, a shortage of available qualified workers is creating challenges for this industry.
 
“Construction firms continued adding new jobs at a faster rate than the broader economy during the past year as demand for their services remains strong,” said Ken Simonson, the trade association’s chief economist. “Even so, they had to keep employees on the job for more hours because they could not find enough qualified people to hire.”

 
About the author
Published
Jun 09, 2017
123 Newrez Employees Laid Off In Florida and Colorado

WARN Notices were filed the day after Computershare Mortgage Services, SLS acquisition closed.

May 07, 2024
Ishbia Predicts A Rate Cut By Election Day

CEO of United Wholesale Mortgage shares 'personal perspective' in new YouTube video

May 03, 2024
Yield Curve, Schmield Curve?

The yield curve is a harbinger, not the be-all, end-all for lenders.

May 02, 2024
UWM, UMortgage Under Attack For Alleged Shell Scheme

A report released on April 25 by the hedge-funded media company alleges UWM set up a shell company, UMortgage.

Apr 25, 2024
More Questions Than Answers At Housing Finance Climate Summit

Government officials, housing leaders, and climate scientists meet to address climate change's escalating impact on housing.

Apr 22, 2024
Maximum Acceleration, Originator Connect Network Sign Exclusive CE Agreement

Pact gives OCN guaranteed live CE at shows, creates nationwide opportunity for Maximum Acceleration

Apr 17, 2024