Construction Employment Stays Steady Through November
Indicators suggest construction is in a holding pattern overall but with large differences between residential and nonresidential construction.
The DATA DIGest, Dec. 2-9
Two indicators last week suggest construction is in a holding pattern overall but with large differences between residential and nonresidential construction. On Friday, Dec. 6, the Bureau of Labor Statistics reported that seasonally adjusted construction employment in November, at 6,541,00, was virtually unchanged compared to October and to the previous six months. The figure was 88,000 (1.3%) below the year-ago number, compared to a decline of 0.2% in the entire economy. General building contractors employed 2% more workers than in November 2001; heavy construction, except building, 4% fewer; and special trade contractors, 2% fewer. However, average weekly hours for construction workers slipped to 38.2 from 38.4 in October, 38.8 in September and 39.3 a year ago. As a result, average weekly pay in the industry was virtually unchanged from a year before.