Michael Latas & Associates
Construction Report - May 2021

Executive Summary

• Construction backlogs increased in May vs. April of 2021 and April of 2020 by +1.3% respectively
• Total construction backlogs increased by +1.3% from last month with heavy industrial construction growing fastest
• Current backlogs are 1.3% higher than than last year
• The United States gained 559K jobs in May from April while the construction industry lost 20K jobs vs. last month. 
  • The construction industry grew +6.0% vs. the prior year with all sectors employing more people
  • General contractors in residential construction grew 0.5% in May vs. April assisted by low interest rates creating a strong housing market
  • Residential contractors are employing 12.2% more people than at the same time last year
• All Contractors have more people employed than at this time last year

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