Construction employment rose last month despite the housing market being in quick decline, although the job gains are not expected to last.
The number of construction jobs grew by 20,000 in November, Friday's jobs report revealed, and the sector has added more jobs per month in 2022 than it did in 2021. Residential construction employment, specifically, grew by 3,900 in November, an increase from the month before.
Combined, the number of single-family and multi-family units under construction is a record — explaining why more workers have been needed to finish them. Desmond Lachman, senior fellow at the American Enterprise Institute, said that job levels in the construction sector are a bit of a lagging indicator because, as the housing market gets worse, it takes some time for jobs to take a hit, given the length of time it takes to build homes.
Another reason that construction employment has stayed strong is the post-pandemic demand for home improvements.
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