April Unemployment Rates Down
NSA construction unemployment rates drop in 49 states
WASHINGTON — In April 2019, for the second month in a row, estimated not seasonally adjusted (NSA) construction unemployment rates fell nationally and in 49 states on a year-over-year basis, according to an analysis of U.S. Bureau of Labor Statistics (BLS) data released by Associated Builders and Contractors (ABC).
As the April 2019 national NSA construction unemployment rate fell 1.8 percent from a year ago to 4.7 percent, the construction industry employed 256,000 more workers nationally compared to April 2018, according to BLS numbers.
“The April construction employment numbers reflect the continued impact of the construction industry on the economy throughout the country,” said Bernard M. Markstein, president and chief economist of Markstein Advisors, who conducted the analysis for ABC. “Reflecting this strength, unemployment rates in April were lower compared to a year ago in all states with the sole exception of Mississippi. This was only the second time in the history of these state estimated construction unemployment rates that rates fell in every state but one on a year-over-year basis. The previous time was in March of this year.”
Because these industry-specific rates are not seasonally adjusted, national and state-level unemployment rates are best evaluated on a year-over-year basis. The monthly movement of the rates still provides some information, although extra care must be used in drawing conclusions from these variations.
The national NSA construction unemployment rate fell 0.5 percent from March to April. A decrease in the monthly rate is the normal pattern, having fallen every April since the report first began in 2000. Among the states, 33 posted lower estimated construction unemployment rates from March, and 17 were higher.
Publication date: 6/21/2019