Construction Contractors

In June, construction employment fell 7,400 and totaled 7.42 million, 238,000 below its 2/20 pre-pandemic peak. Residential construction employment rose by 15,200 in June and it’s 3,051,000, 51,000 higher than in 2/20. Conversely, June nonresidential construction employment shrank by 22,600 and is now 4,372,290, 289,000 below its 2/20 level. Relatedly, private residential construction spending is up 24% YTD, while non-residential spending is down 9.5% with decreases in all 11 sub-categories.