Industry Lost 15,000 Jobs in May

According to a new jobs report from the Bureau of Labor Statistics, the U.S. construction industry lost 15,000 jobs in May making it the second consecutive month of employment losses.

Despite a reduction in jobs, construction spending increased over the past year. One possible cause of the employment stagnation is that construction jobs typically peak in the spring or summer, but a mild winter may have shifted or leveled this peak.

A decade graph of construction employmentThe unemployment rate in the industry was 5.2% in May 2016, a 1.5% reduction from 6.7% the same time last year. Although this can be seen as good news, it could also mean that workers are retiring in greater numbers or are looking for employment in other industries.

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