Construction Adds 28,000 Employees In December And Raises Pay 6.1 Percent As Sector’s Unemployment Rate Hits Record December Low Of 4.4 Percent
Construction firms added 28,000 employees in December and continued to raise wages for hourly workers more than other sectors as the industry’s unemployment rate fell to a record low for the month, according to an analysis by the Associated General Contractors of America of new government data. Association officials said the data align with their newly released survey, which found the majority of contractors are optimistic about demand for most construction types, despite reporting difficulty filling positions.
“There are more people working in construction today than ever before, and those figures are likely to continue to increase,” said Ken Simonson, the association’s chief economist. “But as optimistic as contractors are about 2023, they remain worried about their ability find enough workers amid record-low unemployment.”
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