Construction Job Growth Slows to a Crawl

Construction Job Growth Slows to a Crawl

To follow up yesterday’s post on unemployment and labor force participation rate, here’s our breakdown of the job growth (or losses) in specific sectors for the Seattle area.

First up, year-over-year job growth, broken down into a few relevant sectors:

Seattle-Area YOY Job Gains / Losses

Here’s a look at just the last year zoomed in so you can see what’s going on recently:

Seattle-Area YOY Job Gains / Losses

Our last update back in July showed construction job growth peaking at a little over 10% in January, then falling off to under 4% by June. Revised numbers from the Washington State Employment Security Department have construction doing significantly better through the first half of this year, but still peaking in July at 12% year-over-year growth and falling off dramatically to just 1.4% growth as of October.

The retail sector’s 4.9% year-over-year growth made it the fastest-growing job sector in the Seattle area in October. Overall year-over-year growth has decreased from a high of 3.6% in July to just 2.6% in October.


About The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market.

One comment:

  1. 1
    Scotsman says:

    Ruh Ro! Mexican economy threatened!

    More seriously, it looks like construction was busy playing catch-up after the 2007/8 fiasco and is settling down into a growth rate that more closely aligns with other sectors. Isn’t that what we would expect? Housing and commercial construction only need to keep pace with the demand growth in the broader economy can support. But it makes for a dramatic chart.

    Rate this comment: Thumb up 0

Leave a Reply

Use your email address to sign up with Gravatar for a custom avatar.
Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Please read the rules before posting a comment.