Construction Sector Jobs Increase Nearly 3%
Since August 2022 jobs within construction have gone up by nearly 3 percent in 33 states.
According to the NAHB, year-over-year ending in August, 3.1 million jobs have been added, marking a more than full recovery of the labor market. Except for Mississippi and Rhode Island, all the other states and the District of Columbia added jobs compared to a year ago. The range of gains spanned 402,000 jobs in Texas to 1,400 jobs added in Vermont. Mississippi lost 700 jobs, while Rhode Island lost 6,900 jobs on a year-over-year basis. In percentage terms, Nevada reported the highest increase by 3.9%, while Rhode Island decreased by 1.4% compared to a year ago.
Construction sector jobs in the United States increased by 212,000 (2.7%) on a year-over-year basis. Texas added 21,100 jobs, while Missouri lost 2,700 construction sector jobs. In percentage terms, Wyoming had the highest annual growth rate (13%) in the construction sector, while North Dakota reported a decline of 3.8%.
On a month-over-month basis, the construction industry added a net 22,000 jobs in August compared to the previous month. NAHB Assistant Vice President for Forecasting and Analysis Danushka Nanayakkara-Skillington provides a breakdown of monthly data in this Eye on Housing post.
