Thursday, July 3, 2008

Residential Construction Employment Dips 12% in June

A seasonally adjusted annualized total of 848,700 workers were employed in residential construction in June, down 11.9% from the same month last year, according to the Bureau of Labor Statistics. Workers in residential construction specialty trades totalled under 2.1 million for the month, down 10.0% from June, 2007.
Overall, construction employment fell 2.9% to 7.43 million in June; some 785,000 workers were unemployed. The construction unemployment rate climbed to 8.2%, up from 5.9% in June of last year.
Average weekly earnings for construction workers during the month was $853.01, up 2.7% from June, 2007; average hourly earnings were up 3.5% to $21.65.

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