Lansing, Mich. – Michigan’s construction industry saw the largest year-over-year
drop in unemployment
of any state in the U.S. with a 5.7-point unemployment rate decrease, according to data for February released by the Bureau of Labor Statistics (BLS) and analyzed by Associated Builders and Contractors (ABC).
“Michigan’s construction economy is strong and growing,” said
Chris Fisher, ABC of Michigan President. “The harsh winter weather slows construction
jobs – but not the overall trend of Michigan’s construction comeback. After a
decade of job loss, Michigan’s construction skilled workers are being put back
to work at higher rates this year. There is more work to do to encourage job
growth, but the trajectory of Michigan’s construction industry continues
upward.”
Economist Bernard Markstein analyzed the data for ABC
and noted that, “the weather around the winter months also makes it more
difficult to judge the health of the construction industry. Nonetheless,
construction appears to be on an upward trajectory across much of the nation.
On a year-over-year basis, February construction unemployment rates were down
in 44 of the 50 states along with the U.S. rate.”
Michigan’s construction unemployment rate improved to 13.5 (not
seasonally adjusted) in February 2015, down from 19.2 in February 2014. The
state-level construction unemployment data and analysis are a part of ABC’s
state-level data series launched in March 2015 that includes an annual breakdown of
construction's contribution to each state’s gross domestic product in addition to monthly
updates on
state-levelconstruction unemployment.
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