Construction Unemployment Lowest in 15 Years
September's unemployment rate for workers with construction experience was the lowest since 2000, according to the AGC. While this means fewer experienced workers are on the sidelines, the association emphasized that hiring is slowing and that's likely because of a lack of available workers. This, in turn, could lead to higher construction costs and slower schedules.
The Associated General Contractors of Ameria consistently has been pushing for workforce development measures. “Growth in the construction workforce has been slowing throughout 2015, just at the time that construction spending has accelerated to a multi-year high,” said Ken Simonson, the association's chief economist. “Contractors would love to hire more workers but there aren’t enough qualified craft workers or supervisors available.”
You can find the AGC's complete news release here. The group points out that construction employment has risen 3.3 percent over the past year, compared to 5.1 percent in the previous 12 months.
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