Friday, May 6, 2016

YoY US Construction Employment Comparison


The early 2016 weather did not skew construction employment.  The huge surge in construction hiring in late 2014 and early 2015 is making construction employment appear weak.  Looking at the above graph you can see that in late 2014 and early 2015 the gap over the previous year became quite wide.  Much wider than the 2012 to 2013 gap.  Now construction employment growth rates are slowing relative to 2015.

In fact for the February to April period construction employment grew at 2.8%, inline with the early 2015 growth rate.  What the data does show is a weak growth rate in March 2015 when employment only grew at a 1.5/% annual rate for the month compared to average 2% annual growth rate for March in the last 4 years.  The March dip is visually noticeable in the 2015 curve vs all other years.

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