Construction Employment Falls Further Between October and November
Posted by NotMike at 8:30 AM
The U.S. Department of Labor (DOL) and the Bureau of Labor Statistics (BLS) most recent publishing on employment in the construction sector shows that things are getting better in the long run, but are by no means good in the interim. With winter in full swing over much of the country, seasonal layoffs have returned due to the negative impact cold weather has on construction, and the current economic situation certainly isnt helping.
Last month, the government agencies had reported that although the overall jobless rate was down over previous months, construction unemployment had risen to 17.3% across the U.S. This month, analysis of labor market data from the months of October and November have been compared, and the unemployment rate in the construction sector has risen to 18.8%. Conversely, they are also reporting that construction unemployment has been up or steady over the previous year in about a third of U.S. metropolitan areas.
As weve seen, though, the majority of the gains for the industry have been in heavy construction and civil engineering projects that have received significant stimulus from the federal government. The Associated General Contractors (AGC) of Americaschief executive officer, Stephen Sandherr, stated in a press release on the subject that the government stimulus spending is, almost single-handedly keeping this industry together.
