Construction hiring booming and many available jobsSource
Published: Oct 5, 2018 11:30 a.m. ET
The U.S. shed 2.3 million construction jobs as the housing bubble burst, and has only regained about 1.85 million
One of the brightest spots in recent employment reports has been construction hiring.
Employers added a net new 23,000 construction jobs in September, the Labor Department said Friday, and the number of people working in the industry was 315,000 higher compared to a year earlier.
But there are still construction jobs open – and the pay and perks aren’t bad. At the end of July, there were 273,000 open construction jobs, according to a separate Labor Department report.
“The construction industry added workers and increased pay in the past year at rates higher than the overall economy,” said Ken Simonson, the chief economist for the Associated General Contractors of America, a trade group. “However, the pool of unemployed workers with construction experience has nearly evaporated.”
In September, average hourly earnings for construction workers was $30.18, higher than the $27.24 earned by all workers.
The construction hiring spree of the last five years marks the second-strongest such stretch on record, economist Ed Zarenski wrote on Twitter Friday.
Construction jobs up 214k year-to-date, up more than 300k compared to Sep2017. We are in the midst of the 2nd strongest 5yr growth period for constr jobs ever recorded. added 1.4mil jobs Sep'13-Sep'18 vs 1.5mil for 5yrs 1996-2000.https://t.co/Tym0oMlfr3