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Manufacturing, construction employment see growth in March

Friday, April 2, 2010

Jobs in manufacturing and construction saw recent increases.
Jobs in manufacturing and construction saw recent increases.

Industries that produce goods such as construction and farm equipment may be doing better according, to data provided by the government.

According to the Bureau of Labor Statistics, the manufacturing sector added 17,000 jobs in March. During the first three months of 2010, this industry saw employment growth to the tune of 45,000 positions.

And despite lower returns on private and public projects during the first two months of the year, construction employment increased by 15,000 in March. This sector of the economy lost an average of 72,000 jobs a month in the prior 12-month period.

What may help increase construction employment is the expiration of a tax credit for homebuyers. First-time homebuyers may be eligible for $8,000, while repeat purchasers could get up to $6,500.

The credit expires at the end of April, which could cause some consumers to rush to purchase a new home. As a result, construction employment may increase in order to meet the market's demands.

The overall unemployment rate remained the same at 9.7 percent in March, which could mean the economy is finally finding some stability after the Great Recession. As a result, both manufacturing and construction may benefit from increased consumer spending.
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