{"id":83350,"date":"2019-03-11T12:18:25","date_gmt":"2019-03-11T16:18:25","guid":{"rendered":"https:\/\/www.constructionspecifier.com\/?p=83350"},"modified":"2019-03-11T12:18:25","modified_gmt":"2019-03-11T16:18:25","slug":"construction-labor-market-momentum-continues-report","status":"publish","type":"post","link":"https:\/\/www.constructionspecifier.com\/construction-labor-market-momentum-continues-report\/","title":{"rendered":"Construction labor market momentum continues: Report"},"content":{"rendered":"<figure id=\"attachment_83352\" aria-describedby=\"caption-attachment-83352\" style=\"width: 300px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.constructionspecifier.com\/wp-content\/uploads\/2019\/03\/Opener-7.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-83352\" src=\"https:\/\/www.constructionspecifier.com\/wp-content\/uploads\/2019\/03\/Opener-7-300x201.jpg\" alt=\"Marcum LLP\u2019s annual analysis of industry job trends for 2018 shows construction was a bright spot in the national labor market. Photo \u00a9 www.bigstockphoto.com\" width=\"300\" height=\"201\" srcset=\"https:\/\/www.constructionspecifier.com\/wp-content\/uploads\/2019\/03\/Opener-7-300x201.jpg 300w, https:\/\/www.constructionspecifier.com\/wp-content\/uploads\/2019\/03\/Opener-7.jpg 450w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><figcaption id=\"caption-attachment-83352\" class=\"wp-caption-text\"><span style=\"font-size: 10pt; font-family: arial, helvetica, sans-serif;\">Marcum LLP\u2019s annual analysis of industry job trends for 2018 shows construction was a bright spot in the national labor market.<\/span><br \/><em><span style=\"font-size: 10pt; font-family: arial, helvetica, sans-serif;\">Photo \u00a9 www.bigstockphoto.com<\/span><\/em><\/figcaption><\/figure>\n<p>A new report by <a href=\"http:\/\/www.marcumllp.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Marcum LLP<\/a> says construction was a bright spot in the national labor market, despite financial turmoil, recessionary expectations, and a government shutdown in the fourth quarter of last year.<\/p>\n<p>According to <a href=\"http:\/\/www.marcumllp.com\/industries\/construction\" target=\"_blank\" rel=\"noopener noreferrer\">2018 Marcum JOLTS Analysis<\/a>, between January 2018 and January 2019, construction accounted for 12.5 percent or 338,000 of the total 2.7 million net new jobs created year-over-year. The ratio is even higher on a monthly basis in the early weeks of 2019, with construction adding more than 17 percent of all net new positions in January.<\/p>\n<p>\u201cIn January, the nation added another 304,000 net new jobs, blowing through a consensus estimate of around 170,000 new positions,\u201d said Anirban Basu, Marcum\u2019s chief construction economist.\u00a0\u201cConstruction was one of the big winners, single-handedly adding 52,000 net new jobs.\u00a0Industry unemployment stood at 6.5 percent in January, a bit lower than it was a year earlier.\u201d<\/p>\n<p>In December 2018, the sector added another 88,000 available, unfilled jobs, implying that filling available positions will become even more challenging in 2019.<\/p>\n<p>Basu noted, while the number of job openings in construction has surged, the number of net hires has not changed.<\/p>\n<p>\u201cInterestingly, despite significant job creation, the nation\u2019s construction unemployment rate ballooned from 4.5 percent in October to 7.8 percent in February,\u201d Basu said.\u00a0\u201cMuch of this increase is seasonal, but there is some anecdotal evidence suggesting that it is at least partially due to renewed confidence among job-seekers in construction\u2019s capacity to generate stable employment.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A new report by Marcum LLP says construction was a bright spot in the national labor market, despite financial turmoil, recessionary expectations, and a government shutdown in the fourth quarter of last year.\u00a0<\/p>\n","protected":false},"author":13542,"featured_media":83351,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1029],"tags":[1361],"class_list":["post-83350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-report","entry"],"acf":[],"yoast_head":"<!-- This site is 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