Job growth in the construction industry is on the rebound, according to an analysis from the Associated Builders and Contractors, Inc.
Construction employment across the country is off to a strong start for the year, noted the ABC in its review of the U.S. Bureau of Labor Statistics data for January. Last month, 36,000 new jobs within the construction sector were added. Since January 2016, 170,000 jobs have been created in the industry.
ABC chief economist Anirban Basu noted that growth in both the nonresidential and residential construction sectors was noteworthy for the first month of the new year. The sectors added 14,900 and 20,300 positions, respectively.
According to Construction Dive, wage growth for workers in the construction field is roughly 10 percent higher than the average for the private sector. Between January 2015 and January 2016, hourly wages for construction workers advanced 3.2 percent.
Despite the rebound and a rising unemployment rate, a struggle to secure employees remains.
"For contractors, this is likely to mean even more difficulty in finding suitable workers to complete projects," said Basu. "While the industry unemployment rate has been rising, there is no assurance that new entrants into the U.S. labor force possess the skills necessary to work on today's construction projects. This also likely implicates faster wage growth within the nation's construction workforce."