The state of Mississippi led the US in construction job growth in October, according to a new report by the Associated General Contractors of America (AGC). Memphis Business Journal, citing the report, said Mississippi outpaced neighboring state Tennessee in terms of the number of people employed in construction. Tennessee now ranks 44th.
AGC said that the number of people working in construction in Tennessee fell to 107,200 October this year from last year's 108,700. This is a year-over-year decline of 1.4%. In contrast, the state's growth rate is 4.2% from July 2012 to July this year. It was the 11th best rate in the US that month, Memphis Business Journal said.
But while Tennessee lost ground in October, 39 other US states have reported construction employment gains during the same period, the report said. Mississippi, now the country's construction employment leader, grew 19.1% in October from the same month over a year ago, Memphis Business Journal said. Mississippi employed 57,900 workers October this year compared to last year's 48,600, based on AGC's State Construction Employment Report.
Accoring to the Engineering News Record (ENR), the Top 400 Contractors in the US generated USD282.41 billion in contracting revenue in 2001. It was an increase of 8.8% from 2010's USD259.41 billion. Mississippi's The Yates Companies Inc. ranked 23rd in ENR'S Top 400 Contractors, its website said. The construction company also ranked 224th in Forbes' Largest Private Companies in the US. Yates Companies has at least 500 construction employees, based on a profile by InsideView.
The Yates Companies has fared well even during the economic slump, maintaining annual revenues averaging USD1.5 billion, the Mississippi Business Journal said.
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