All Things Construction

Workforce, Workforce Ratio, Nonresidential Construction, Residential Construction, and Real Residential Construction

Just before COVID hit, the number of employees working in construction had just finally returned to 2008 levels:

Since that’s nominal headcount, when compared to the total workforce (which has grown since the financial crisis), the ratio looks a little bit different (but more stable):

Just like headcount, nonresidential construction spending is also cyclical:

But not nearly as cyclical as residential construction:

Which looks a little less crazy when adjusted for inflation:

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