New Mexico Gains Ground:Highest Increase in Construction Jobs Across the Nation This Summer
Industry: Real Estate
Between June and July of 2014 New Mexico had the highest percentage increase in construction jobs in the nation and was fourth on the national list for job growth.
New Mexico (PRUnderground) September 22nd, 2014
Across the nation construction jobs are increasing, and the western states are seeing some of the most dramatic growth. New Mexico, Texas, and Nevada are among those with the greatest growth in the construction industry.
“Construction is in recovery and adding jobs faster than the overall economy for the last year or so,” remarks Ken Simonson, chief economist with the Associated General Contractors of America.
The AGC released a study in September that put construction at its highest level in five years with 20,000 new jobs added in August, for a national total over 6 million for the year. The analysis also showed that summer construction jobs have jumped by four percent, by 232,000.
The unemployment rate in the construction industry is down, according to the federal Labor Department which reported in August that overall construction joblessness is down to 7 percent. This is the lowest its dipped since 2007. In 2009 it had risen to a high of 18%.
New Mexico is gaining ground. From June to July of this year, New Mexico had the highest percentage increase in construction jobs at 3.1 percent, making it fourth on the national list for job growth, behind only Delaware, Alabama and Kentucky.
Pay rates according to the Bureau of Labor Statistics show a wage disparity within the state of New Mexico, with construction workers pay averaging from $16,000 to $27,000 in the state as a whole, yet with workers in and around Bernalillo County ranging from $31,000 to $37,000.
Bernalillo wages are significantly greater than in most of western Texas and Arizona, where pay ranged between $16,000 and $27,000. Colorado’s overall state average matched Bernalillo County, ranging between $27,000 and $37,000.
Check out the full article here.
About Construction Reporter
Founded in 1949 to provide New Mexico contractors with local project information, Construction Reporter has grown steadily in size and coverage area, today serving the commercial construction industry throughout the Southwest. Our mission is to help our customers succeed by delivering reliable, comprehensive, up-to-the-minute information on projects in planning and out for bid in New Mexico and the surrounding states. We are passionate about helping our member companies grow by delivering the most bidding opportunities, the most efficient bidding tools, and the most industry exposure of any news service in the region.
