Construction Unemployment Down in October

October not seasonally adjusted (NSA) construction unemployment rates were down in 33 states and the nation on a year-over-year basis, according to analysis by Associated Builders and Contractors (ABC). The national NSA construction unemployment rate of 5.7 percent was down 0.5 percent from a year ago, Bureau of Labor Statistics (BLS) data shows.

This was the lowest national October construction unemployment rate since 2006, when it was 4.5 percent, according to ABC. BLS data also reported that the industry employed 175,000 more people than in October 2015.

“October 2016 adds yet another month to the long-running streak of monthly year-over-year rate declines in the national construction unemployment rate that began in October 2010,” says Dr. Bernard M. Markstein, president and chief economist of Markstein Advisors, who conducted the analysis. “These industry-specific unemployment rates are not seasonally adjusted, so it is important to note states’ performance on a year-over-year basis. The improvement from last year in the national unemployment rate as well as in the rates of 33 states is a further indication that the construction job market remains healthy. Further, demand for skilled construction workers is especially strong.”

The five states with the lowest estimated NSA construction unemployment rates in order from lowest rate to highest were North Dakota, Massachusetts, Colorado, Utah, and New Hampshire and South Dakota (tied).

The five states with the highest NSA construction unemployment rates in order from lowest to highest rates were Illinois and Rhode Island (tied), New Mexico and Pennsylvania (tied), and Alaska.

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