RSS Feed by Calculated Risk on 4/04/2014 01:29:00 PM
Friday, April 04, 2014
Construction and Government Payrolls
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) | ||
|---|---|---|
| Year | Construction Jobs | Government |
| 2002 | -85 | 233 |
| 2003 | 127 | -42 |
| 2004 | 290 | 147 |
| 2005 | 416 | 186 |
| 2006 | 152 | 209 |
| 2007 | -195 | 288 |
| 2008 | -789 | 180 |
| 2009 | -1047 | -74 |
| 2010 | -192 | -219 |
| 2011 | 144 | -317 |
| 2012 | 114 | -58 |
| 2013 | 156 | -34 |
| 20141 | 88 | -13 |
| 1through March 2014 | ||
This 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.
