Those who work in the construction sector have something to look forward to as employment rates continue to rise in 2018. The Bureau of Labor Statistics (BLS) reported 13,000 new jobs within the industry in May alone.
According to The Associated General Contractors of America (AGC) Data DIGest, unemployment rates within construction have stayed steady over the past two years at around 4.7 percent (https://bit.ly/2lWI9vb). According to the same article, construction employment rose in 73 percent of the 358 metro areas recorded by the BLS across the United States from May of 2017 to May of 2018. Employment fell in 13 percent of metro areas and stayed the same in 13.4 percent.
Chief economist at AGC, Ken Simonson, reported that the construction industry’s employment growth is exceeding the rate of increase for the economy overall. In an article written in Engineering News-Record (ENR), construction firms are paying workers high wages, averaging $29.71 an hour, to attract new and keep existing workers (https://bit.ly/2zJcCGV). This is good news for those who currently work in construction or for those who are wanting to enter the industry.
The economy as a whole added more than 200,000 jobs last month according to BLS reports. The full report can be viewed here: www.bls.gov/news.release/pdf/empsit.pdf.
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