The first graph below shows the number of total construction payroll jobs in the U.S. including both residential and non-residential since 1969.
Construction employment decreased by 28,000 thousand jobs in May, seasonally adjusted. Not seasonally adjusted, construction employment increased 169,000 in May. This suggests some weather related "payback" in May, as opposed to a new round of job losses in construction.
Last year was the first year with an increase in construction employment since 2006, and the first with an increase in residential construction employment since 2005.
Unfortunately this graph is a combination of both residential and non-residential construction employment. The BLS only started breaking out residential construction employment fairly recently (residential specialty trade contractors in 2001).
Click on graph for larger image.
Construction employment appears to have bottomed, and should add to both GDP and employment growth in 2012.
Other construction indicators - housing starts, new home sales, construction spending - are all increasing (public construction spending is decreasing), and construction employment should also increase this year.
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