At least one sector is helping to create Austin construction jobs.
The construction industry throughout the nation continues to suffer the lasting effects of the economic downturn. The industry, which was among the hardest hit by the recession, is not likely to make a full recovery anytime soon.
The situation in Austin is no different. While the area’s other industries are beginning to recover and add workers each month. the construction industry continues to lag behind.
The Austin-Round Rock-San Marcos area’s mining, logging and construction industry employed 38,800 workers during May, according to the U.S. Department of Labor Bureau of Labor Statistics. This is down from 39,000 workers during April and a 4.9 percent decrease from last year.
However, Austin’s construction industry is getting some relief from recent growth in home building. That’s partly because of an $8,000 federal tax credit offered to new home buyers through April, which caused many people to move their plans ahead.
“What happened at the end of April,” John Horton, chairman of the Austin Board of Realtors, told KXAN. “A lot of buyers that bought in May and June moved their decision up in April, so it’s very reasonable to expect there’s going to be a period between – while those homes are actually closing May and June – where the number of buyers are gonna be less in the market, until the market catches up and kinda stabilizes.”
It’s likely that the jump in home building won’t slow down anytime soon, as the Home Builders Association of Greater Austin found that construction applications for new homes increased by 14 percent between May 2009 and May 2010. In addition, permits for single family developments grew by 8 percent during the same period.
Popularity: 1% [?]
Tags: Austin construction jobs