What is the Twin City job market like? The short answer is it is a very good time to consider a new position! Here’s why…
The U.S. economy added 134,000 jobs in September and the unemployment rate improved to 3.7% from August’s 3.9%.
Employment in the professional and business services subsector, which includes architecture and engineering firms, increased by 70,000 jobs, a 100 percent increase from last month. This subsector accounted for 38 percent of all service-providing sector jobs added in September.
The construction industry added 23,000 jobs in September. Construction’s September jobs gains came in all but one industry segment, residential buildings.
The AIA’s monthly Architecture Billings Index (ABI) came in at a score of 54.2 in August, marking the 11th consecutive month of gains. The ABI is a leading economic indicator of construction activity in the U.S., and reflects a nine- to 12-month lead time between architecture billings and construction spending nationally, regionally, and by project type. A score above 50, as seen in August, represents an increase in billings from the previous month, while a score below 50 represents a contraction.
August’s score is 3.5 points higher than July’s reading of 50.7, indicating that business continues to trend upward despite labor shortages and cost inflation of building materials.
Economic indicators illustrate It is a great time to consider new opportunities in the architecture industry! AEC Resources has a variety of new positions available for you to check out on our jobs page.