With the summer building season underway, the nation’s construction industry added 7,000 jobs in May as the unemployment rate dipped to 10.8 percent, which is down from 13.2 percent in April and the lowest rate since October 2008, according to U.S. Labor Department. Since May 2012, the industry added 189,000 jobs, or 3.4 percent.
Despite gains in every other construction sector, the nonresidential building sector lost 2,600 jobs for the month. Year-over-year, the sector added 15,300 jobs, or 2.3 percent. Nonresidential specialty trade contractors added 1,200 jobs in May and netted 51,600 workers, or 2.5 percent, since the same time last year. Heavy and civil engineering employment rose by 3,100 jobs in May and increased by 28,600 jobs, or 3.3 percent, from May 2012.
In contrast, the residential sector added 900 jobs for the month and 18,100 jobs, or 3.2 percent, during the last year. Residential specialty trade contractors added 4,600 workers for the month and 76,300 workers, or 5.2 percent, on a year-over-year basis.
Overall, the nation added 175,000 jobs as the private sector expanded by 178,000 jobs and the public sector shrunk by 3,000 jobs. The national unemployment rate was 7.6 percent in May, up from 7.5 percent in April, but down from 8.2 percent compared to the same time last year.