New York Construction Report staff writer
New York City’s construction sector experienced the largest job losses in the nation in October, according to a new analysis by the Associated General Contractors of America (AGC). Between October 2023 and October 2024, the city lost 11,300 construction jobs, a decline of 8 percent.
While the national construction industry saw overall growth, with 238 out of 358 metro areas reporting job increases, New York City was an exception. The nationwide trend of rising construction employment contrasted sharply with the job losses in New York.
Nationally, construction employment rose in most metro areas, driven by strong job gains in places like Houston, Northern Virginia, and Las Vegas. However, New York City’s decline was the largest, followed by other metro areas such as Portland, Oregon (-5,600 jobs) and Sacramento, California (-3,200 jobs).
Despite offering above-average wages, construction firms continue to face challenges in hiring qualified workers. The average hourly wage for construction workers in October was $36.23, nearly 19 percent higher than the $30.48 average for production workers in the broader private sector. However, 94 percent of contractors report difficulty finding skilled workers.
Ken Simonson, AGC’s chief economist, noted that many contractors could have hired more employees if there were enough qualified applicants. “Contractors are struggling to fill openings despite offering competitive pay,” he said.
In response to the shortage of skilled workers, AGC officials are calling for increased federal investment in vocational and technical education. They are urging lawmakers to pass measures like the Workforce Innovation and Opportunity Act to boost funding for training in fields like construction.
The New York City construction sector’s job losses highlight ongoing challenges in the industry, as firms continue to deal with labor shortages, despite efforts to raise wages and improve job benefits.
