Nonresidential Construction Employment Rises - Modern Distribution Management

Nonresidential Construction Employment Rises

The industry added 31,000 net jobs in November, according to an Associated Builders and Contractors analysis of U.S. labor data.
On July 28, building materials distributor US LBM announced that Steve Short has been promoted to senior vice president of supply chain for the company.

Nonresidential construction employment rose last month, as the industry added 31,000 jobs on net, according to an Associated Builders and Contractors analysis of data released Friday by the U.S. Bureau of Labor Statistics.

The industry has recovered approximately 90% of the jobs lost during earlier stages of the COVID-19 pandemic.

Nonresidential construction employment in November increased by 20,800 net positions, with all three subcategories posting gains for the month, according to ABC’s analysis.

Heavy and civil engineering and nonresidential specialty trade added 8,100 and 6,800 jobs, respectively, while nonresidential building employment expanded by 5,900 positions.

The construction unemployment rate rose to 4.7% last month, while unemployment across all industries declined from 4.6% in October to 4.2%, according to the analysis.

“Today’s jobs report will be viewed by many as a big miss thanks to the headline number, and that is a mistake,” ABC Chief Economist Anirban Basu said. “While many economists were expecting close to 600,000 jobs instead of the 210,000 figure that emerged today, there were many positive indications from today’s report. Among them is the fact that the labor force participation rate rose to 61.8% from 61.6%. While inflationary pressures are generally unpleasant, they may also be inducing more Americans to jump back into the labor force as life has become more expensive. That appears to have happened in November.”

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.