LoginThe latest figures released by the Commerce Department show renewed spending in the construction sector, which is being boosted by an increase in demand for new homes.
The Los Angeles Times reported that construction spending across the United States rose 5.4 percent in May compared with last year, which was buoyed by the highest residential numbers in more than four years. Despite the request sequester, the department noted that public construction also increased across the country, which means there has been more spending at the state and local levels. At the same time, the department's report found a slight drop in nonresidential building, with spending dropping off for offices and shopping centers.
Meanwhile, in West Virginia, a new report has found that recent and ongoing construction projects at West Virginia University have not only pumped more than $1 billion into the state's economy, but also helped create 7,100 jobs.
Other areas of the country that have recently seen a rise in construction projects and jobs include Boston, where the industry hired more than 9,000 people over the past year and Birmingham, Alabama, which has added approximately 2,000 jobs since May 2012.