Construction Jobs Among April Employment Gains - Modern Distribution Management

Construction Jobs Among April Employment Gains

Non-farm payrolls rose by 253,000 jobs last month, including 15,000 in the construction industry, according to ABC.
Nonfarm payrolls rose by 253,000 jobs last month, including 15,000 in the construction industry, according to ABC.

The U.S. construction industry added 15,000 jobs on net in April, according to an Associated Builders and Contractors analysis of data released May 5 by the U.S. Bureau of Labor Statistics.

Industry employment has expanded by 205,000 jobs, an increase of 2.7%, on a year-over-year basis, ABC said.

The uptick in construction jobs last month was part of a higher-than-expected boost to the labor market, which saw 253,000 non-farm jobs added in April.

Nonresidential construction employment increased by 800 positions on net, with growth in only one of the three subcategories, ABC said. Nonresidential specialty trade contractors added 10,700 positions, the number of heavy and civil engineering jobs decreased by 8,100, and nonresidential building lost 1,800 jobs on net.

U.S. construction unemployment rate dropped to 4.1% in April, while unemployment across all industries decreased to 3.4%, matching a 53-year low.

“Despite adding just 800 net jobs in April, nonresidential construction payrolls have expanded at a faster pace than the broader economy over the past year,” said ABC Chief Economist Anirban Basu. “Job creation continues to exceed expectations, and April saw the unemployment rate return to the lowest level since 1969. Put simply, the demand for workers remains significantly above the supply. This is especially true for contractors, a majority of whom intend to increase their staffing levels over the next six months, according to ABC’s Construction Confidence Index.”

Over all industries, the U.S. economy created 149,000 fewer jobs in February and March than previously reported, according to Reuters. Over the prior six months, job growth has averaged about 290,000 jobs per month, the outlet reported.

On May 3, the Federal Reserve increased interest rates by another 0.25% in attempts to combat inflation but hinted that further increases may be paused.

The Institute for Supply Management’s monthly Purchasing Managers Index (PMI) — a well-regarded barometer of the U.S. industrial economy — rose slightly in April but remains in contraction territory.

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.