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October 2021 Was a Big Month for the Construction Sector 

The construction industry added 44,000 jobs on net in October, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics. Overall, the industry has recovered 963,000, or 86.5%, of the jobs lost during earlier stages of the pandemic. Nonresidential construction employment increased by 33,000 positions on net, with all three subcategories showing gains for the month: Nonresidential specialty trade contractors and heavy and civil engineering added 19,300 and 12,100 jobs, respectively, while nonresidential building employment rose by 1,600 positions. The construction unemployment rate decreased to 4.0% in October. (Unemployment across all industries fell from 4.8% in September to 4.6% last month.)

“After two months of disappointment, the U.S. employment market bounced back, adding 33,000 nonresidential construction jobs in October in the process,” says ABC chief economist Anirban Basu. “Many economists believed that seasonal adjustments artificially suppressed statistical employment growth in September. That appears to have been correct. Nonetheless, employers continue to report difficulty filling available positions and job growth has slowed significantly since the initial periods of the economic recovery. The expectation is that labor force participation will continue to pick up going forward, albeit gradually.”

And Florida is leading the charge: American Surveyor reports that “Associated Builders and Contractors today released its seventh annual Merit Shop Scorecard, a ranking based on state policies and programs that encourage workforce development, grow a career and technical education, strengthen careers in construction and advocate for fair and open competition for taxpayer-funded construction projects.” Florida grabbed the top spot in the rankings.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.