Non-residential construction starts declined 2.5 percent from October to November in the U.S., according to a new report (see attachment) from construction data provider CMD. November’s new construction total, $24.0 billion, was 1.6 percent higher than November 2014.
Total employment in the construction sector increased by 46,000 jobs during November, the greatest month-to-month gain since January 2014. Construction’s NSA unemployment rate in November was 6.2 percent, compared to 7.5 percent this time last year.
Among the three major sub-categories of non-residential construction, commercial (3.7 percent increase) and institutional (3.6 percent increase) activity couldn’t offset heavy engineering’s (10.4 percent decrease) pullback. Year-to-date (YTD) starts (Jan. 2015 – Nov. 2015) for heavy engineering remain positive (14.3 percent increase) due to increases in road/highway (11.8 percent increase YTD) and bridge work (15.6 percent increase YTD).