While I still believe the US construction market is coming back strong this year, the 16.1% unemployment rate for January reported in ENR is sobering. January 2012 had a rate of 17.7%, so we are seeing some improvement. In fact, this year’s rate is the best in the past five years.

Nevertheless, nobody is giving high fives about 16% unemployment. The national average is down to 7.9%. So construction continues to lag in this recovery.

Ken Simonson, Associated General Contractors of America chief economist, said, “We are likely to see continued strong growth in single- and multifamily homebuilding, moderate increases in private nonresidential construction and shrinking investment levels for the next several months.” He added, “Those trends, in turn, will lead to a steady increase in the number of construction jobs.”

I’m thinking this is one of those “Darkest before the dawn” moments. Here’s hoping.