Homebuilders and contractors continued to add to employment numbers in July. According to Bureau of Labor Statistics data, residential construction employment increased by 24,000 in July.
Forest Economic Advisors says total construction employment numbers increased to nearly 7.2 million jobs in July. Residential construction employment numbers show 815,000 builders and 2 million residential specialty trade contractors. Nonresidential employment, however dropped 4,000 jobs in the same month.
Commercial construction was expected to lag behind residential building, according to the American Institute of Architects, which predicted that commercial building would take the hardest punches from the COVID-19 pandemic. AIA predicted a 12% decline in commercial activity for 2020, which it said would continue into next year with a 8.4% decrease predicted.