Charleston, WV, August 1
- June not seasonally adjusted (NSA) construction unemployment rates
improved in 47 states and the nation on a year-over-year
basis according to analysis released today by Associated Builders and Contractors (ABC)
. Leading the list
in year-over-year reduction to state construction unemployment rates is West Virginia seeing a decrease in its industry unemployment of 3.3 percent from June 2015. West Virginia's construction unemployment rate has been falling at a considerable pace since earlier this year. In March of 2016, West Virginia was ranked 46th
among states in the year-over-year-analysis. By April, West Virginia climbed to 16th
, followed by another jump to 3rd in May
and is now leading the nation in this category.
After two years of abysmal construction unemployment rates marking the steepest declines in the country, we're excited to see the industry move in a positive direction in West Virginia," said ABC's West Virginia President Bryan Hoylman. "Construction employment is intimately tied to economic output. Without investment, projects simply cannot be built. There are clearly new demands in West Virginia on the construction side that we have not seen in recent years. At the end of the day, the industry is putting West Virginians back to work, and for that reason, we're excited to see this positive trend over recent months and in comparison to previous years' activity."
Despite heavy hits to coal production, sluggish gains in the oil and gas market and substantial reductions to state funding due to several years' worth of budget shortfalls, this type of swift improvement in construction unemployment rates in comparison to previous years could very well signify a positive turn in the overall economy of West Virginia. June's year-over-year analysis marked the lowest rate for that month in the published study period, dating back over a decade. West Virginia has also improved in overall construction unemployment from 49th nationally
, to 42nd in the same four-month time frame.
Associated Builders and Contractors (ABC) is a national construction industry trade association representing nearly 21,000 chapter members. Founded on the merit shop philosophy, ABC and its 70 chapters help members develop people, win work and deliver that work safely, ethically, profitably and for the betterment of the communities in which ABC and its members work.Visit us at abcwv.org
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