The construction unemployment rate fell to 3.7% in July, tightening the available labor pool while nonresidential hiring continued to grow.
Nonresidential specialty trade contractors added 15,400 jobs in July, accounting for most of the month’s construction employment growth.
U.S. construction employment reached about 8.343 million workers in July after the industry added 22,000 jobs during the month.
Nonresidential construction employment increased by 126,400 jobs, or 2.6%, over the past year while residential employment moved lower.
Residential construction lost 44,200 jobs year over year while nonresidential construction added 126,400, creating a sharp split in labor demand.
Construction pay growth accelerated in July, with craft-worker wages rising faster than pay for production workers across the broader private sector.
Construction employers reported 305,000 job openings at the end of June, up 14,000 for the month and 81,000 from a year earlier.
Every state posted a construction unemployment rate below 10% in June, and all but three states were below 7%, according to ABC.
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