Vol. 23, No. 25 July 3-7, 2023Construction employment increases in June, unemployment hits new low; spending rises in May  Construction employment increases in June Construction employment, seasonally adjusted, totaled 7,947,000 in June, a gain of 23,000 from May and 198,000 (2.6%) year-over-year (y/y), according to AGC’s analysis of data the Bureau of Labor Statistics (BLS) posted today…Read moreConstruction spending rises in May Construction spending (not adjusted for inflation) totaled $1.93 trillion in May at a seasonally adjusted annual rate, up 0.9% from the upwardly revised April rate and up 2.4% y/y, the Census Bureau reported on Monday…Read moreJob openings reach second-highest May total  There were 396,000 job openings in construction, not seasonally adjusted, at the end of May, the second-highest May total in the 23-year history of the series and a decrease of 37,000 (-8.5%) y/y from the all-time May high of 433,000 in 2022, BLS reported on Wednesday in its monthly Job Openings and Labor Turnover Survey (JOLTS) release… Read more University campuses fuel commercial real estate market   Housing “geared to college students at popular schools is a rare bright spot in the beleaguered commercial real-estate business,” the Wall Street Journal reported on Wednesday… Read more Economic activity in service sector continues to grow  Economic activity in the services sector expanded in June for the sixth consecutive month,” the Institute for Supply Management reported on Thursday… Read more 2023 Autodesk/AGC Workforce Survey  Contractors are invited to fill out the 2023 Autodesk/AGC Workforce Survey. Please click here. Results will be posted in late August.