North America’s Largest Woodworking Event | Tuesday–Friday | August 6–9, 2024


Industry & Trends

Construction Jobs Drop In March but Still Up Over a Year Ago

The construction job picture continues to be unstable, showing a decrease in positions in March versus the month before but still gaining versus 2022 numbers.

The slowdown in the residential housing market continues to have a negative impact on the number of construction jobs but the results so far this year are outpacing the 2022 results.

In numbers just released by the U.S. Bureau of Labor Statistics for March, the most recent available, residential construction jobs dropped by 7,000 while non-residential positions declined less, by 1,800. Within the non-residential sector, the specialty trade lost 6,100 positions, while the number of nonresidential building jobs decreased by 2,800. Heavy and civil engineering, however, added 7,100 net new jobs. The overall construction unemployment rate declined to 5.6% in March.

However, compared to year-ago results, things looked more encouraging. Versus 2022, the industry grew by 196,000 jobs, giving it a 2.5% increase. 

Associated Builders and Contractors chief economist Anirban Basu, in commenting on these results, said he still sees a recession “within the next 12 months,” and that “the industry may be positioned for meaningfully weaker conditions in 2024.”

The National Association of Home Builders commented that it saw building peak in 2022 and as the backlog is gradually worked down this year it forecasts a “cooling stage” for the immediate future.


More Industry & Trend News

  • Baltimore Bridge Collapse Could Impact Plywood and Veneer Shipments

    April 10, 2024

  • Home Depot Doubles Down on Pro Business

    April 10, 2024

  • Over Half of Homeowners Plan to Renovate in Next Five Years

    April 10, 2024

Register to Attend

Be part of North America’s largest woodworking show and conference.

Register Now

Apply to Exhibit

Grow your business at the premier global woodworking trade show.

Exhibit at IWF 2024

Show Hours & Location

International Woodworking Fair
August 6–9, 2024

8:30 AM–5:00 PM
8:30 AM–2:00 PM

Georgia World Congress Center
285 Andrew Young International Blvd
Atlanta, GA 30313

Get Industry News & IWF Updates

Subscribe to IWF Network News.

Subscribe Now

Terms & Privacy Policy

© 2020 International Woodworking Fair, LLC Terms of Use & Privacy Policy

3520 Piedmont Rd NE #350, Atlanta GA 30305 | (404) 693-8333

IWF 2024 Add to Calendar

Sync IWF 2024 with your favorite calendar program.

Notification Message

loading … please wait