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Construction Industry Faces Job Losses in August Amid Mixed Outlook
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WASHINGTON, DC — The construction industry lost 7,000 jobs in August, according to data released by the US Bureau of Labor Statistics.
Nonresidential construction employment decreased by 1,200 positions on net, with losses in 2 of the 3 subcategories.
“The construction industry has now lost jobs in each of the past three months,” said Associated Builders and Contractors Chief Economist Anirban Basu.
Despite these job losses, construction labor shortages appear to be worsening as immigration policy weighs on the supply of workers; the construction unemployment rate fell to 3.2% in August, matching the lowest level ever recorded.
“Construction industry data have been particularly downbeat since March,” said Basu.
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