General World News

Residential construction jobs now 7.6% above pre-COVID level

After a month of very little change in April, the construction sector had a solid month of job growth in May, according to the U.S. Jobs Report released on Friday.

Construction gained 36,000 jobs in May, with residential building adding 5,000 jobs and residential specialty trade contractors gain 11,700 jobs. Employment in the construction sector is 40,000 higher than its level in February 2020, while employment in residential building is 7.6% higher than its pre-pandemic level.

“Although housing inventory is beginning to increase, demand continues to exceed supply even as mortgage rates have spiked,” details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com