About Amerisurv| Contact    
Magazine | Newsletter    
Flickr Photos | Advertise    
HomeNewsNewsletterAmerisurv DirectoryJobsStoreAuthorsHistoryArchivesBlogVideosEvents
Events & Education | Business | Equipment | Hardware | Space, GPS, GNSS | RS & Photogrammetry | GIS, Maps & Models | LiDAR  

Sponsored By

Software Reviews
Continuing Series
An RTN expert provides everything you need to know about network-corrected real-time GNSS observations.
Click Here to begin the series,
or view the Article PDF's Here
76-PageFlip Compilation
of the entire series
Test Yourself

Got Answers?
Test your knowledge with NCEES-level questions.
  Start HERE
Meet the Authors
Check out our fine lineup of writers. Each an expert in his or her field.
Wow Factor
Sponsored By

Product Reviews
Partner Sites







Spatial Media LLC properties




Home arrow News arrow Business arrow Construction Employment Growth Surges in February   The American Surveyor     

Construction Employment Growth Surges in February Print E-mail
Written by Associated Builders and Contractors   
Friday, 09 March 2018

Washington, March 9—February was the best month for construction employment gains since March 2007, according to Associated Builders and Contractors’ (ABC) analysis of today’s employment report from the U.S. Bureau of Labor Statistics (BLS). The sector added 61,000 net new jobs on a monthly basis in February, an increase of 0.9 percent, and 254,000 net new jobs on a yearly basis, an increase of 3.7 percent.

Nonresidential construction added 35,400 net new jobs in February after adding 21,000 net new jobs in January. Although gains were widespread among all five major construction subsectors, nonresidential specialty trade contractors outperformed them all with 19,000 net new jobs.
The construction industry unemployment rate, which is available only on a non-seasonally adjusted basis, increased by half a percentage point in February and stands at 7.8 percent. Despite the month-over-month increase, which is likely attributable to seasonal factors, the industry’s unemployment rate is a full percentage point lower than at the same time one year ago. The national unemployment rate for all industries remained unchanged at 4.1 percent.
“Today’s employment report could scarcely have been better,” said ABC Chief Economist Anirban Basu. “In addition to a massive top-line number, construction employment surged by 61,000 net new jobs. In other words, construction was responsible for approximately one-fifth of net new job creation in February. On top of that, nonresidential construction accounted for the majority of net new construction jobs. Nonresidential construction job creation was broad based—supported by nonresidential builders, heavy and civil engineering, and specialty trade contractors alike.
“This is hardly where the good news ends,” said Basu. “Labor force participation rose and the national unemployment rate remained at 4.1 percent for a fifth consecutive month. Worker compensation also expanded, but not in a way that suggests problematic inflation. While the construction industry unemployment rate increased to 7.8 percent, this is the lowest observed rate in February since BLS began tracking the industry’s unemployment rate in 2000.”
“ABC has been indicating that 2018 would represent the best year for the U.S. economy since at least 2005,” said Basu. “The February jobs report strongly implies that prediction likely will prove to be correct. Today’s numbers should fuel additional consumer and business optimism, which should set the stage for strong construction spending and lofty backlog during the months ahead. That said, broader issues regarding inflation remain, including inflation potentially generated through the imposition of trade restrictions by major world economies.”

About ABC
Associated Builders and Contractors (ABC) is a national construction industry trade association established in 1950 that represents more than 21,000 members. Founded on the merit shop philosophy, ABC and its 70 chapters help members develop people, win work and deliver that work safely, ethically and profitably for the betterment of the communities in which ABC and its members work. Visit us at abc.org.

< Prev   Next >


Amerisurv Exclusive Online-only Article ticker
Featured Amerisurv Events
List Your Event Here
contact Amerisurv


Topcon Releases

press [at] amerisurv.com
Online Internet Content


News Feeds

Subscribe to Amerisurv news & updates via RSS or get our Feedburn
xml feed

Need Help? See this RSS Tutorial

Historic Maps

post a job
Reach our audience of Professional land surveyors and Geo-Technology professionals with your GeoJobs career ad. Feel free to contact us if you need additional information.


Social Bookmarks

Amerisurv on Facebook 

Amerisurv LinkedIn Group 

Amerisurv Flickr Photos 

Amerisurv videos on YouTube 



The American Surveyor © All rights reserved / Privacy Statement
Spatial Media LLC
7820B Wormans Mill Road, #236
Frederick MD 21701
301-695-1538 - fax