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The latest job report issued on Friday showed that the construction industry exceeds the frequency of employment, while the unemployment of workers in the industry also increased.

Data from the Ministry of Labor showed that construction companies added 19,000 jobs in February, after a small profit of 4000 in January. This represents the strongest month of growth since the third quarter of 2024.

However, this growth came in addition to the high unemployment rate in the construction, which rose to 7.2 % compared to the total unemployment rate of 4.1 % for this month.

Angelan Basso, chief economist in the industry, said that the large leap in the unemployment rate in the industry indicates that the width of the employment can accommodate continuous employment.

Basso also warned that the decline in the government roles driven by the Ministry of Governmental efficiency in Elon Musk may have other effects on the construction sector.

He said: “Federal job discounts and spending can reduce, in addition to the high uncertainty, from construction activity in the margins, but these effects have not yet appeared in these employment data.”

2025-03-07 14:30:00

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