Friday, April 04, 2014

Construction and Government Payrolls

by Bill McBride on 4/04/2014 01:29:00 PM

The following table shows the net payroll jobs added per year for construction and government jobs. Construction was the hardest hit sector during (and before) the recession, and construction employment is now up 532 thousand from the bottom.

Government employment is still falling (state and local employment has bottomed, but Federal employment is still declining).  Combined there are about 2.3 million fewer construction and government jobs compared to before the recession started.

Annual Change in Construction
and Government Payroll jobs (000s)
YearConstruction JobsGovernment
2002-85233
2003127-42
2004290147
2005416186
2006152209
2007-195288
2008-789180
2009-1047-74
2010-192-219
2011144-317
2012114-58
2013156-34
2014188-13
1through March 2014


Construction EmploymentThis graph shows total construction employment as reported by the BLS (not just residential).

Since construction employment bottomed in January 2011, construction payrolls have increased by 532 thousand - but there are still 1.76 million fewer construction jobs now than at the peak in 2006.

Historically there is a lag between an increase in activity and more hiring - and it appears hiring should pickup in 2014.

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