Rates of Construction Unemployment Rates October From year on, ABC says

Washington, December 3-In October, it is estimated that seasonally and nationally adjusted construction unemployment rates were not increased in 34 states, fell in 13 states and were not changed in three states on a year-by-year basis, according to analysis. US Bureau of Labor Statistics Data issued today by Builders and Associated Contractors.

Since October 2019, the construction industry employed 146,000 more workers nationally compared to October 2018, even as the NSA's national unemployment rate climbed from 3.6% to 4% over the same period, according to BLS numbers. This continues the trend of reduced growth in construction employment. The increase in employment during the year in October was the smallest increase from the January 2013 increase of 116,000.

“In October, optimism above the average in the eastern half of the country was likely to slow down and wildfires in parts of the West were more likely to have engaged in construction and employment activity,” said Bernard M. Markstein, Ph.D. President and chief economist Markstein's advisers, who conducted the analysis for ABC. “In addition, temperatures are likely to have fallen below average in the country's north-western quarter built in these areas.” T

As these industry-specified rates are not seasonally adjusted, it is best to evaluate national and state unemployment rates on a year-by-year basis. The monthly movement still gives information sharing rates, although extra care needs to be used when drawing conclusions from these variations.

NSA national construction unemployment rate increased 0.8% from September to October. The general pattern is that rates would rise from September. Prior to this year, there were 12 increases and seven decreases since the data set began in 2000. Among the states, construction unemployment rates were estimated to be higher since September, with five lower and three unchanged.

The Five Largest States

The states with the lowest estimated NSA construction rates of unemployment were the lowest to the highest to the highest: t

  1. Utah, 0.9%
  2. Vermont, 1.2%
  3. North Dakota, 2.2% t
  4. South Carolina, 2.3%
  5. Florida, 2.4%

Two of these states – South Carolina and Utah – were in the top five in September. For the second consecutive month, Utah had the lowest construction unemployment rate, which was still the lowest October rate.

Vermont had the lowest rate in October, up from 14th lowest in September (attached to New Hampshire). The state had the lowest rate in October and the second largest decrease per year (down 1.4%) in the country, behind Montana (down 2.1%).

North Dakota was the third lowest in October, a significant improvement over 30th the lowest in September. The fall in the state's construction unemployment rate seems to be the result of unemployed construction workers who leave the state or leave the workforce from the month. This was the lowest October rate in North Dakota since the rate of 1.1% in 2015 and the third lowest in October was recorded.

South Carolina had the fourth lowest rate in October. This is down from the third lowest in September and is linked to Colorado based on revised data (originally reported as connected to Alabama on the fourth lowest rate). This was the lowest rate the state had in October.

Florida had the fifth lowest rate in October, up from the seventh lowest in September (connected to Maryland). This was the second lowest recorded rate in October, behind the 2.2% rate in 2017.

South Dakota, which had the lowest rate in September (linked to Utah based on revised data, was first reported as the lowest second rate) fell to the lowest sixth in October with a 2.6% rate, t connected to Maine and Maryland.

Colorado, which had its third lowest rate in September (attached to South Carolina), fell to the lowest ninth in October with a 2.7% rate, linked to Nevada.

Idaho, who had the fifth lowest rate in September based on revised data (originally reported as the fourth lowest), declined to 16th the lowest rate of 3.2% in October.

Alabama, which was the sixth lowest in September based on revised data (originally reported to South Carolina on the fourth lowest rate), declined to 11th the lowest rate in October with a rate of 2.9%, tied to Texas. However, this was the lowest October rate in Alabama.

The five Original States

States with the estimated NSA construction rates of unemployment are the highest in terms of the lowest to the highest:

  1. West Virginia, 6.5%
  2. Pennsylvania, 6.6%
  3. Kentucky, 6.9%
  4. Mississippi, 8.1%
  5. Alaska, 10.2%

Three of these states – Alaska, Kentucky and Mississippi – were also in the bottom five in September. As of September, Alaska had the highest estimated construction unemployment rate in October. However, after last year's 8.5% rate, the October rate was lowest in Alaska since it reached 8.4% in 2001. It is not surprising that Alaska had the largest monthly increase among states. up 3.5%.

Mississippi was the second highest in October, as in September. This shows seven months running that the state has the highest or highest unemployment rate in the state.

For the second consecutive month, Kentucky had the third highest rate.

Pennsylvania was the fourth highest in October compared to the sixth highest in September (tied to Missouri, Rhode Island and Wyoming).

West Virginia had the fifth highest rate in October compared with 10th highest in September (connected to Illinois and Michigan). The second largest and monthly increase by the state among the states was up 1.8% and 1.9%, respectively.

Connecticut, with its fourth highest rate in September (connected to Montana), improved to the eighth highest in October with a rate of 5.8%. Meanwhile, Montana improved to 14th The lowest rate is 3.1%, tied to Oregon. Montana had the largest fall in its year-on-year and monthly rate in the nation, down 2.1% and 1.8%, respectively. This was also the lowest rate the state had in October.

Missouri was the seventh highest in October at 6.1%. It was first reported that it is the fifth highest rate in September (tied to Connecticut), Missouri was raised to the sixth highest based on revised data (connected to Pennsylvania, Rhode Island and Wyoming).

To get a better understanding of the basis of unemployment rates and calculate what they measure, see section Background on State Construction Unemployment Rates.

Visit abc.org/economics for the Building Backup Indicator, Building Confidence Index and state unemployment reports, plus analysis of expenditure, employment, GDP and Producer Price Index.

About ABC
Associates Builders and Contractors is a national construction industry trade association established in 1950 representing over 21,000 members. Based on the philosophy of the merit shop, ABC and its 69 chapters help to develop people, achieve and deliver work safely, ethically and profitably for the benefit of the communities in which ABC works and its members. Visit us at abc.org.

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