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JOLT Survey Analysis

 
JOLT Survey - The Question Becomes - How Will All This Work Get Done?

March 2017   Survey Analysis

Employment data characterizing the fourth quarter of 2016 are consistent with expanding construction industry human capital shortfalls. According to the Bureau of Labor Statistics, the U.S. added 105,000 net new construction jobs from September 2016 to January 2017. That would represent a decent performance over the course of an entire year. The job growth from September through January, a period of five months, amounts to 1.2 percent employment expansion over that period. This is significantly more rapid that the 0.5 percent growth in U.S. employment tallies across all industries.

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JOLT Survey - Construction Labor Market Recovery Continues

March 2016   Survey Analysis

The construction industry continued its post-recession recovery through the first month of 2016, adding 18,000 net new jobs according to the Bureau of Labor Statistics' preliminary estimate. This represents the seventh consecutive month of job gains for the industry and brings total construction employment above 6.6 million for the first time since 2008. The industry would likely have reached that milestone earlier, were there not an ongoing shortage of skilled construction workers.

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JOLT Survey Paints a Complex Picture

February 2015   Survey Analysis

The US construction industry continued to recover in 2014. Post-recession construction employment surpassed the 6 million plateau for the first time, though total construction employment remains more than one million jobs short of the pre-recession high. During 2014's final month, the construction industry added 44,000 jobs, which means that the construction industry supports 5.7 percent more jobs than it did one year ago. The year-over-year percentage increase represents the largest construction employment gain since May 2006, which arguably represented the beginning of the end for the nation's housing boom.

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JOLT Survey Spotlights Emerging Skills Shortages

April 2014   Survey Analysis

The US construction industry remains far from full recovery. Despite that, the industry is increasingly impacted by emerging skills shortages; the products of ongoing retirements, rapidly shifting technologies, and inadequate levels of interest among younger workers. Readers should note that net given job creation in any given month is the product of massive numbers of people being hired and almost equally large numbers of people being released from employment over that same period. All too frequently, the number of US construction jobs actually declines on a monthly or annual basis. When construction adds or loses jobs in a given month, the reported figure is a net change statistic that often obscures the frantic pace of hiring and firing that characterizes the industry.

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