Construction Sector Adds 27,000 Jobs in November, Project Cancellations Will Undercut Future Job Gains
Construction employment increased by 27,000 jobs in November, as continuing robust gains in residential categories masked more sluggish increases in nonresidential jobs, according to an analysis by the Associated General Contractors of America of government data released today. Association officials cautioned, however, that pandemic-induced project cancellations and looming tax bills for firms that used Paycheck Protection Program loans to save jobs threaten to undermine future job growth in the sector.
“The construction industry recovered a bit in November, but the future is far from certain for the industry,” said Ken Simonson, the association’s chief economist.
Construction employment climbed to 7,360,000 in November, an increase of 0.4 percent compared to October.