Construction employment increased in 268 of 358 metro areas between December 2021 and December 2022, according to an analysis by the Associated General Contractors of America of new government employment data. Association officials said the industry faces some headwinds in 2023 that could undermine future growth in construction employment in many parts of the country.
“Labor is tight, materials prices are increasing, interest rates are rising, and some sectors of the economy are announcing layoffs,” said Ken Simonson, the association’s chief economist. “These threats could undermine future job growth in the construction sector, especially if expected federal funding for construction remains delayed by regulatory obstacles.”
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