While the U.S. construction industry gained 6,000 jobs from April to May, nonresidential construction segments lost 500 jobs, according to an employment report by the U.S. Department of Labor (DOL).
“Coming into [Friday’s] release, the nonresidential construction industry was expected to have added jobs in May; instead, 500 jobs were lost,” says Associated Builders and Contractors chief economist Anirban Basu. “While the nation added almost precisely the number of jobs collectively anticipated by economists, the jobs lost in the nonresidential construction segments, including 400 jobs among specialty trade contractors, came as a surprise.”
Nonresidential building construction employment fell by 100 jobs for the month, according to the report. Meanwhile, the residential sector added 3,300 jobs in May.
“Today’s disappointing jobs report follows months of tepid growth in construction spending,” says Basu. “Public construction expenditures remain incredibly constrained and private nonresidential construction spending declined in April, a reflection of an economy that actually shrank during the year’s initial months.”