Construction Employment Surges at Year’s End

By Anonymous -
The U.S. construction industry showed robust growth at the end of 2015, adding 45,000 net new jobs in December and 128,000 during the fourth quarter according to analysis of today’s employment release from the U.S. Bureau of Labor Statistics by Associated Builders and Contractors (ABC). The construction industry’s nonresidential component added 16,400 net new jobs in December while the residential sector accounted for 23,100 and the heavy and civil engineering sector contributed 4,800. 

“Many contractors continue to report strong backlog, indicating that nonresidential construction spending will remain a key economic driver in 2016,” said ABC Chief Economist Anirban Basu. “Given the mounting level of concern regarding the U.S. economic outlook in the face of emerging global deflationary forces and unstable geopolitics, today’s employment report is a positive sign. Consumer spending will be the primary economic driver in 2016 and the U.S. economy would fail to achieve even 2 percent growth should the labor market begin to sputter."
From NRCA
Trenton H. Cotney
Florida Bar Certified Construction Lawyer
Trent Cotney, P.A. 
407 N. Howard Avenue
Suite 100
Tampa, FL 33606
www.trentcotney.com

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