Wall Street Journal staffer Harriet Torry reports on a Labor Department release that construction employment increased in 43 states including the District of Columbia since last year, a bit of good news for a sector still struggling with the effects of the Great Recession.
Torry uses the October BLS data print as the basis of her report, but also checks in with Associated General Contractors of America perspective for an industry-level and geographic read on increased hiring activity. She writes that not is all well, although employment growth in construction is up and expected to continue:
Despite gains for the building sector, the industry is still well below what’s considered normal, economists said. A weak recovery from the housing boom and bust of the last decade has been compounded by a slow rate of household formation. Home construction remains sluggish as millennials spend longer living at home or choose downtown residences over the suburbs, tamping down demand for newly built homes.