Construction Unemployment Rate Drops to 6.2%

Arlington, VA, November 9, 2015—Construction firms added 31,000 workers in October as the industry's unemployment rate declined to 6.2% amid robust demand for construction, according to an analysis by the Associated General Contractors of America.

Association officials noted that construction employment is now at the highest level since February 2009 as the sector continues to recover from the downturn.

Construction employment totaled 6,434,000 in October, the most since February 2009, and is up by 233,000 jobs compared to a year ago, a 3.8% increase. Residential construction increased by 6,000 in October and by 99,100, or 4.2%, compared to a year ago. Nonresidential construction employers added 24,900 jobs for the month and 133,800 jobs compared to last October, a 4.5% increase.

Ken Simonson, the association's chief economist, noted that construction wages have been consistently rising for the past four years and averaged $27.54 per hour in October, 9.3% more than the average for all nonfarm payroll employees. Average hourly earnings in construction increased 2.6% from October 2014 to October 2015, up from 2.4% one year earlier and 0.7% four years earlier.

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