Construction unemployment declines in NY

Kevin Oklobzija//February 7, 2023//

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Year-over-year unemployment in the construction industry in New York fell 1.7 percent in December (photo Tamil Vanan, Pexels). — Year-over-year unemployment in the construction industry in New York fell 1.7 percent in December. (Photo Tamil Vanan, Pexels)

The not-seasonally-adjusted construction unemployment rate in New York dropped 1.7 percent in December compared to the previous year, according to the Associated Builders and Contractors (ABC).

In an analysis of state-by-state U.S. Bureau of Labor Statistics data by the ABC, unemployment in the state dropped to 5.4 percent from 7.1 percent.

That was still a full percentage point higher than the average rate in the construction industry across the U.S. in December, with 39 states showing lower unemployment figures than New York.

“Nonresidential, open shop construction employers fully expect public investment to rise over this year and next as more state and local projects tap into federal funds from the Infrastructure and Jobs Act and move from the planning stage to execution stage,” Brian Sampson, president of the ABC’s Empire State Chapter, said in a news release.

“While that is good news, the government in New York must work harder to create an environment where private development chooses to invest in the state rather than in other regions of the country that will provide them a better return on their investment. We cannot continue to make construction so expensive in New York.”

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