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Posted by on in General
Job Market Update

The U.S. Department of Labor - Bureau of Labor Statistics publishes a "Monthly Jobs Report" following the beginning of each month. This report describes the previous month's employment statistics, based on data such as the number of jobs that were added to the economy, the unemployment rate, and other factors.

The US economy saw an increase of 223,000 jobs last month and the unemployment rate dropped to 3.8%, the lowest its been in eighteen years- since April 2000. This is according to the May report.

Wages have risen slightly, although the increase has been relatively modest. Per Business Insider, average hourly earnings rose .3% from the previous month and 2.7% from the previous year. Companies are also having to pay more to retain talent. 

Labor Updates for the Architecture, Engineering & Construction (AEC) Industry

The BLS showed an increase of 25,000 jobs within the construction industry. A recent Architect Magazine article indicated that the architecture, engineering and construction (AEC) industry as a whole spiked. 

• Architectural and engineering services increased by 800 jobs
• Heavy and civil engineering increased by 5,000 jobs
• Specialty trade contractors increased by 20,500 jobs

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The AEC Industry Job Market Update

The United States. Department of Labor- Bureau of Labor Statistics publishes a Monthly Jobs Report after the beginning of each month. Each report describes the previous month's employment statistics, based on data including the number of jobs that were added to the economy and the unemployment rate.

Per the February Jobs Report, the US economy saw an increase of 313,000 jobs this past month and the unemployment rate remained at 4.1% for the 5th consecutive month. 

Overall, February's report was viewed in a positive light. 

  • Job creation greatly surpassed expectations
  • Job growth has been consistently strong in recent months 
  • The labor force participation rate is back up to 63%
  • Average hourly earnings rose 2.6% year-over-year

The Architecture, Engineering & Construction (AEC) Industry  

The Bureau of Labor Statistics showed an increase of 61,000 jobs within the construction industry. The construction industry had the strongest month of job growth since 2007, which was responsible for 1/5 of the new job creation.

According to Architect Magazine, the Architecture, Engineering and Construction (AEC) industry as a whole is trending upward. 

  • Architectural and engineering services added 5,600 jobs  
  • Nonresidential building construction jobs increased by 8,900
  • Heavy and civil engineering construction increased by 7,500 jobs
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