The construction industry added 33,000 jobs in February even as the industry’s unemployment rate was 21.8 percent, more than twice the national average, according to an analysis of new federal employment data released today by the Associated General Contractors of America. As welcome as the new figures are, association officials cautioned that it was too early to tell whether the industry is improving or simply benefitting from the more favorable weather in February compared to the previous month.
“Given what this industry has been through, figures like these are as welcome as they are long overdue,” said Ken Simonson, the association’s chief economist. “The question now is whether these figures reflect a thaw in economic conditions for the industry, or the benefits of warmer weather and less snow in many parts of the country in February.”
To read the AGC’s full press release, click here.