The United States is consistently checking the unemployment rates month-to-month. This month, we are ecstatic to share what they have found.
According to the newest figures, construction unemployment has fallen to the lowest percent since September 2000. As of September 30, the number of people employed within the construction industry
nationwide rose to 6.4 million. That is the best month since February 2009.
Beyond these figures, the number of single- and multi-family homes continues to be on the rise. With new buyers and increased demand, it’s no wonder the rates are following suit.
Interestingly enough, contractors are running into a unique situation where they have ample projects, but are lacking enough qualified workers to hire.
As we reported last month, subcontracting is also on the rise, with an average of 22 subcontractors working on one house. Between HVAC, plumbing, electrical, and more, there are plenty of opportunities for new specialists to emerge in the market. With education and gained experience, the field can continue to flourish with unemployment decreasing and availability of projects increasing.