WASHINGTON, DC — The development trade added 11,000 jobs on web in January, based on an Related Builders and Contractors evaluation of knowledge launched as we speak by the US Bureau of Labor Statistics. On a year-over-year foundation, trade employment has expanded by 216,000 jobs, a rise of two.7%.

Nonresidential development employment elevated by 7,600 positions on web, with progress in two of the three subcategories. Nonresidential specialty commerce added 13,700 positions, whereas nonresidential constructing added 1,600 jobs on web. Heavy and civil engineering misplaced 7,700 jobs.

The development unemployment charge rose to six.9% in January. Unemployment throughout all industries remained unchanged at 3.7% final month.

“The development trade added jobs for the tenth straight month in January,” mentioned ABC Chief Economist Anirban Basu. “That was hardly the most important story from as we speak’s launch, nevertheless, with whole US payroll employment rising by a staggering 353,000 positions. That’s almost twice the consensus forecast and represents yet one more financial indicator that has shocked to the upside.

“The development unemployment charge stood at 6.9% for the month, which is tied for the third-lowest January charge on document,” mentioned Basu. “Because of labor shortage, development wages surged in January, rising on the quickest charge since July 2023. With each the development trade and the broader economic system persevering with to develop at a speedy tempo, contractors will battle to stay adequately staffed over the approaching quarters, particularly with a majority of contractors intending to extend their staffing ranges over the following six months, based on ABC’s Development Confidence Index .”