The residential sector added 37,000 new jobs last month, boosting industry employment above pre-pandemic levels.
By Christina Dock
The U.S. added 916,000 non-farm jobs overall in the month of March — a spike in payrolls not seen since last August. The gains were easily led by the 280,000 in leisure and hospitality, as those industries began to recuperate. Construction also had a good month, placing among the top three sectors for employment gains, with 110,000 jobs added.
The U.S. Bureau of Labor Statistics said that after a decline in February largely owing to unusually cold weather in many parts of the country, the industry’s strong comeback included 73,000 jobs in non-residential construction along with 37,000 for residential. Specifically, gains included 65,000 jobs with specialty trade contractors, 27,000 in heavy construction and civil engineering construction, and 18,000 in building construction.
The net result of the March increases means the construction industry as a whole has recovered 83.6% of the jobs lost because of COVID-19. The strength of the residential sector cannot be overstated. It now surpasses levels seen prior to the pandemic, while jobs in the non-residential sector are still more than 35% below that same period.
Overall, most industries experienced gains in March, with mining, transportation equipment, furniture and related products, petroleum and coal products and plastics and rubber products among the few showing declines. One likely contributor to the healthy across-the-board gains has been the steady increase in the number of individuals receiving COVID-19 vaccines — this step is allowing the country to get back to business and commerce, and the workforce is starting its long road to recovery.
