USA Construction Industry Added 13,000 Jobs In June

11 Jul 2013


Immigration News

According to July 5 report by Department of Labor, USA's construction industry unemployment rate fell to 9.8% for first time since September 2007 with the addition of 13,000 jobs in June. Industry has added 190,000 jobs, 3.4% increase since June 2012. Every major category of construction experienced gains in employment. Across all industries, USA added 195,000 jobs as private sector expanded by 202,000 jobs and public sector shrunk by 7,000 jobs.

Today’s employment report is positive news for the nation’s construction industry,” said Associated Builders and Contractors Chief Economist Anirban Basu.

 “While the economy continues to face a number of headwinds, including most recently in the form of higher interest rates, the wealth effect associated with rising equity markets and home prices dominates the recovery,” Basu said. “The result has been steady expansion in consumer spending, which is associated with expanding job creation in closely aligned sectors of the economy.

“For construction contractors, the implication is that the volume of work associated with lodging and shopping center construction will continue to march higher,” said Basu. “Not coincidentally, more than one-third of the construction jobs added last month were added by specialty trade contractors.

“There was also evidence of more people falling into part-time work, and the broadest measure of unemployment, which includes discouraged workers and people working part-time for economic reasons, rose to 14.3 percent in June,” Basu added.

“Despite this increase, the construction industry’s diminishing unemployment rate shows that societal income tied to wages and salaries continues to expand slowly, which suggests the economy will only grow at a moderate pace,” said Basu. “That should be enough to help drive nonresidential construction spending higher, but progress will remain gradual.”

Source: http://news.thomasnet.com/companystory/USA-Construction-Industry-added-13-000-jobs-in-June-20011076


QUICK ENQUIRY

  • Send me regular updates and alerts
This has been a perfect service. Vamsi has ...

Axxxxx xxxxx
Australia

AUSTRALIAN VISA...

Processing visa through Opulentus has been an awesome ...

Sxxxxxxx xxxxxxxxxxxxI
Australia

AUSTRALIAN VISA...

The process at Opulentus is smooth, transparent and ...

Vxxxxxx xxxxxxx
Australia

AUSTRALIAN VISA...

It was a good experience with opulentus team, ...

Sxxxxxxx xxxxxxA
Australia

AUSTRALIAN VISA...

It had been very good journey and experience ...

Jxxxxxx xxxxxxA
Australia

AUSTRALIAN VISA...

PR process along with Opulentus was very smooth. ...

Pxxxxxxxxx xxxxxA
Australia

AUSTRALIAN VISA...

From the first day of me walking in ...

Nxxxxxxxxx xxxxxxxx
Australia

AUSTRALIAN VISA...

I would like to thank OPULENTUS and Mrs.Ashwini ...

Vxxxxxxx xxxxxxxxxxx
Australia

AUSTRALIAN VISA...

Hi, The journey of getting the VISA was smooth ...

Dxxxxxx xxxxxxxxI
Australia

AUSTRALIAN VISA...

I would like to take this opportunity to ...

Hxxxxxxxxx xxxxxxxxxN
Australia

AUSTRALIAN VISA...

View All