Steel Products
Construction Unemployment Hits 17-Year Low in September
Written by Sandy Williams
October 6, 2017
The construction industry added 8,000 jobs in September for its highest level since 2008, but could have hired even more if qualified workers were available, said the Associated General Contractors of America.
Construction unemployment was 4.7 percent in September, its lowest September rate since 2000, said AGC. Average hourly earnings have increased 3 percent from last year to $29.19, nearly 10 percent more than the average nonfarm private sector job in the U.S.
An August survey showed that firms are still having a hard time finding enough qualified craft workers to hire. Career and technical programs are needed to expose young people to high-paying careers in construction, said AGC. The association urged the Senate to pass the Perkins Act that will boost funding for training programs.
“There are a lot of under-employed Americans who would be much better off working in construction, instead of doing shift work for little more than minimum wage,” said Stephen E. Sandherr, the association’s chief executive officer. “It is time to stop stigmatizing jobs like construction just because they require workers to use their hands as well as their brains.”
{loadposition reserved_message}
Construction employment totaled 6,911,000 in September, a gain of 8,000 jobs for the month and 184,000, or 2.7 percent, over 12 months. The year-over-year growth rate in industry jobs was more than double the 1.2 percent rise in total nonfarm payroll employment, said Ken Simonson, the association’s chief economist. He cautioned that employment figures for both the construction industry and the total were likely distorted in September by temporary impacts from Hurricanes Harvey and Irma.
Residential construction—comprising residential building and specialty trade contractors—shed 7,200 jobs in September but added 80,600 jobs, or 3.1 percent, over the past 12 months. Nonresidential construction (building, specialty trades, and heavy and civil engineering construction) employment increased by 11,700 jobs in September and jumped 2.5 percent over the past 12 months.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Products

U.S. Steel to halt slab conversion at Granite City Works
U.S. Steel said it plans to reduce slab consumption at its Granite City Works near St. Louis, a company spokesperson said on Monday. The Pittsburgh-based steelmaker will shift the production and processing of steel slabs to its Mon Valley Works near Pittsburgh and its Gary Works near Chicago. Citing a United Steelworkers (USW) union memo, […]

SMU Week in Review: September 1-5
Here are highlights of what’s happened this past week and a few upcoming things to keep an eye on.

HR Futures: Market finds footing on supply-side mechanics
As Labor Day marks the transition into fall, the steel market enters September with a similar sense of change. Supply-side fundamentals are beginning to show signs of restraint: imports are limited, outages loom, and production is capped, setting the stage for a market that feels steady on the surface but still unsettled underneath.

Beige Book: US markets remain cautious amidst volatile pricing environment
Sluggish economic activity across the US was largely attributed to uncertainty caused by tariff policies and growing cost pressures, according to the US Federal Reserve’s (The Fed) latest Beige Book report. The Fed’s latest economic report, posted on Sept. 3, consists of economic findings from the six weeks preceding Aug. 25 throughout 12 districts. Economic […]

Rig count dips again in both US and Canada
Oil and gas drilling activity waned in the US and Canada this past week. Ticking own for the second straight week in both regions.