The construction industry unemployment rate fell slightly last month according to the Department of Labor’s Bureau of Labor Statistics (BLS). The unemployment rate fell to 17.1 percent from 17.7 percent in March. Both the residential and nonresidential building construction sectors added about 2,000 jobs in February.
While the unemployment rate in the construction industry remains high, the jobs picture is significantly improved compared to February 2011 when the unemployment rate stood at 21.8 percent.
The economic outlook for the construction industry improved last month while the economy as a whole continued to show signs recovery. For the third consecutive month, employers added more than 200,000 jobs to payrolls in February. The unemployment rate held steady at a three-year low of 8.3 percent according to the BLS.