December’s total construction hiring added 8,000 jobs to the construction labor force from the month prior.
The latest reading was once again below average when compared to the past 12 months and put fourth-quarter total gains at just 15,000 jobs, a level that until recently could have been easily exceeded by a single month’s gains.
This latest quarterly performance is also the weakest since April 2020, when over one million construction jobs were lost in a single month due to lockdowns.
The strongest gains for the month were split between residential building and subtrades nonresidential, with each adding 4,000 jobs.
No construction segments reported net job losses in December.
Weekly construction and total private earnings. Data Source: Bureau of Labor Statistics (BLS), Chart: ConstructConnect
Hourly wages and weekly hours worked continue to make construction an attractive industry for laborers.
December’s average hourly construction wage increased to $38.95, while the average number of hours worked per week fell for a third consecutive month to 38.8.
In comparison, the average hourly wage of all private sector workers increased to $35.69, and weekly hours worked remained stable at 34.3.
The combination of these trends amounted to average weekly construction earnings of $1,511, a $287 or 23% weekly premium when compared to the average private-sector laborer’s weekly compensation.