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Construction Industry Adds 11,000 Jobs In January As Severe Weather Hampers Projects; Above-average Wage Gains Imply Ongoing Demand

 

The construction industry added 11,000 jobs in January despite bouts of exceptionally cold or stormy weather that delayed projects in numerous regions, according to an analysis of new government data the Associated General Contractors of America released today. Association officials noted that firms are boosting wages and taking other steps to attract more workers as firms try to keep pace with relatively strong demand.

“Although job gains were modest last month, other evidence suggests there is still lots of demand for workers,” said Ken Simonson, the association’s chief economist. “Wages rose faster than in other sectors, job openings at the end of 2023 were at near-record levels for December, and construction spending jumped that month.”  

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