Last month, the construction industry created 464,000 net new jobs, the greatest monthly jump in construction jobs yet and a dramatic improvement from April, which recorded the industry’s largest month-over-month job loss. Per an Associated Builders and Contractors analysis of data sent out on Friday by the U.S. Bureau of Labor Statistics, some 237,000 non-residential construction net new positions were generated in May. The data highlighted job gains in all three non-residential sub-segments: nonresidential specialty trade contractors, non-residential buildings, and heavy and civil engineering.
“Combined with rising contractor confidence, as indicated by ABC’s Construction Confidence Index, this will also help accelerate the recovery of state and local government finances as tax collections surge, ultimately resulting in more monies available to finance infrastructure,” ABC Chief Economist Anirban Basu declared.
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