Nonresidential Employment Declines in February, Labor Market Tightness to Continue

According to an Associated Builders and Contractors (ABC) analysis of data released today by the U.S. Bureau of Labor Statistics, the construction industry lost 61,000 jobs net in February. While construction unemployment has risen to 9.6% in February (4.1% higher than last year), unemployment across all industries dropped slightly last month to 6.2% (6.3% in January).