Employment/Labor includes blogs about job openings, employment rates, residential construction wages, demographics in construction etc.
The median age of construction workers is 42, one year older than a typical worker in the national labor force, according to NAHB analysis of the most recent 2022 American Community Survey (ACS) data. However, more younger people are joining the construction industry. Despite some…
According to the latest 2022 ACS, 11.2 million people, including self-employed workers, worked in construction in 2022. NAHB estimates that out of this total, 4.7 million people worked in residential construction, accounting for 2.9% of the US employed civilian labor force. Home building in the…
Close to 23% (or over 2.5 million) of workers employed in construction are self-employed, according to the 2022 American Community Survey (ACS). As industry payrolls expanded in 2022, the share of self-employed inched down. However, the share remained higher than it was in 2019, before…
Nonfarm payroll employment increased in 38 states and the District of Columbia in April compared to the previous month, while 11 states saw a decrease. Alaska reported no change during this time. According to the Bureau of Labor Statistics, nationwide total nonfarm payroll employment increased…
In March, residential building workers’ wages continued to grow but at a relatively slower pace. After an acceleration of a 6.2% increase in the previous month, the year-over-year (YOY) growth rate for residential building worker wages slowed to 5.1% in March. According to the Bureau…
Job growth slowed in April, and the unemployment rate increased to 3.9%, suggesting a cooling labor market after a strong start to the year. Additionally, wage growth continued to slow. In April, wages grew at a 3.9% year-over-year (YOY) growth rate, down 0.7 percentage points…
Reflecting persistent long-term labor challenges, wages in construction continue to rise, often outpacing and exceeding typical earnings in other industries. Not seasonally adjusted (NSA) average hourly earnings (AHE) in construction increased 5% since a year ago and approached the $38 mark in March 2024, according…
