With favorable weather conditions this winter season, U.S. construction companies added more than 21,000 jobs last month as overall unemployment dropped to 8.3 percent – the lowest rate in more than three years.
The U.S. economy added 243,000 jobs total last month, with almost 10 percent of those claimed by the building sector. According to released unemployment data, just 206,000 construction workers claimed inability to work due to inclement weather – less than half of the average for this time of year.
The industry, however, still suffers from a nearly 17.7 percent unemployment rate, and analysts predict minimal to no growth in 2012. An unusually warm winter season is good news for workers who do have employment, but much uncertainty for the future of the sector remains.
Many in the industry look to coming infrastructure projects in the United States to help boost the sector, as Congress looks for ways to fund the much-needed work on aging American roadways, waterworks, and other areas.