US construction industry recovers from pandemic woes

Posted on April 11, 2022 |

Builders were struggling to find skilled labor during the pandemic but at present, the U.S. construction industry has more workers than before the pandemic.
The recovery is due to homebuilding and the remodeling sectors, which retrieved all of their lost jobs at the beginning of the year and have continued to expand as the number of people working in residential construction jobs grew by 6% 890,000 in March compared to February 2020.
High demand in construction raised hourly earnings to 33%, which is above pre-pandemic levels due to which other sectors lost workers, and construction picked up the pace.
In March, 80% of Americans in their prime working age have a job compared to April 2020's low of 70%, and the number of people who lost permanent jobs also fell in March by 190,000 to 1.4 million, which is close to the 1.3 million level of pre-pandemic.

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