US construction employment and wages increase

Construction employment increased again from August to September in the US, resulting in around 7,000 jobs being added, according to the Bureau of Labor Statistics.

These figures mean that construction unemployment in the US is at 3.2% – the joint lowest it has been in the last decade.

The report also showed that construction wages are at their highest for the last decade. Average hourly earnings are at US$30.81, a year-over-year increase of 66 cents and US$5.93 more than reported in September 2009. 

To put this into a wider context, the national unemployment rate in the US is 3.5%.

Commenting on the figures, Ken Simonson, chief economist at Associated General Contractors of America, said, “Contractors foresee plenty of projects to bid on, and nearly three-fourths of firms expect to add workers during the next twelve months, but most are finding it hard to find qualified workers to hire.”