February construction job gains best in 10 years, Ohio group says

February was the best month for construction job gains in more than 10 years, according to a regional builders group.

Citing a the U.S. Bureau of Labor Statistics report, new employment in that industry last month was the best it’s been since March 2007, according to the Associated Builders and Contractors – Ohio Valley chapter.

The sector added 61,000 net new jobs on a monthly basis in February, an increase of 0.9 percent, and 254,000 net new jobs on a yearly basis, an increase of 3.7 percent, according to the ABC’s Springboro-based chapter.

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Nonresidential construction added 35,400 net new jobs last month after adding 21,000 net new jobs in January, according to the group. Although the ABC said gains were widespread among all five major construction subsectors, nonresidential specialty trade contractors outperformed them all with 19,000 net new jobs.

The construction industry unemployment rate, which is available only on a non-seasonally adjusted basis, increased by half a percentage point in February and stands at 7.8 percent, according to the contracting group.

Despite the month-over-month increase, which is likely attributable to seasonal factors, the industry’s unemployment rate is a full percentage point lower than at the same time one year ago, it stated.

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The national unemployment rate for all industries remained unchanged at 4.1 percent.

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