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Posts Tagged ‘associated general contractors of america’

Construction Industry Unemployment Still Up Despite Addition Of 5,000 Jobs

November 9, 2010 23 comments

The Associated General Contractors of America released some puzzling math in the construction industry employment numbers.

Even as the number of people working in construction increased by 5,000 between September and October 2010, the industry’s unemployment rate rose to 17.3 percent, according to an analysis of federal employment figures released today by the Associated General Contractors of America. Temporary government investments boosted commercial construction employment, offsetting further job losses in residential construction, association officials noted.

“Despite significant help from programs like the BRAC and the stimulus, construction employment continues to lag behind much of the private sector,” said Stephen E. Sandherr, the association’s chief executive officer. “It is yet another indicator that the economy has a long way to grow before demand for new office buildings, retail centers and manufacturing facilities returns.”

Association officials noted that construction employment lagged behind other sectors of the economy. For example, while total private employment rose by 1.1 million during the past 12 months, the construction industry lost 122,000 jobs. Meanwhile, the industry’s unemployment rate is nearly double the unadjusted national rate of nine percent.

Full Press Release From: AGC of America

Categories: Construction, News

Construction Employment Decreases, Again!

August 9, 2010 Leave a comment

What goes down, must come up?

Construction employment decreased by 11,000 between June and July 2010 while the industry’s unemployment rate fell to 17.3 percent, according to a new analysis by the Associated General Contractors of America of federal employment data released today. The third month of construction employment declines, despite the stimulus, reflects overall weak demand for private, local and state funded construction, association officials noted.

“The fact that this industry continues to suffer from unemployment rates nearly double the national average is a reflection of how much demand for construction has cratered in little more than two years,” said Stephen E. Sandherr, the association’s chief executive officer. “Worse yet, there’s every indication that as the benefits of the stimulus fade the industry’s employment picture will get even worse.”

Sandherr noted that since July 2008, construction employment has declined by a total of 1,591,000 jobs, a 22 percent decline. He added that even though the industry accounts for four percent of the non–farm workforce, it has experienced 23 percent of the total job losses over the past two years. “The sad fact is that construction workers have been forced to endure depression–like conditions for far too long.”

Full Press Release: Associated General Contractors of America

Categories: Construction, News

Construction Hiring On The Rise

April 20, 2010 Leave a comment

26 States add construction jobs in March.

Construction hiring rose in more than half of the country in March, according to the latest state employment figures from the Bureau of Labor statistics.  Nationally, 15,000 new construction jobs were added last month, the first net gain in the industry since June 2007. [CNBC Reports]

“It’s too early to tell whether these numbers reflect the start of a positive trend, or the impact of a warm March following a snowy February,” said Ken Simonson, chief economist for the Associated General Contractors of America.

Let’s hope for the positive trend thing!

Categories: Construction, News

25% Of Constructions Workers Are Out Of A Job

February 16, 2010 Leave a comment

With construction lagging, the construction industry unemployment rate is at a staggering 24.7%. [rock bottom?]

Overall U.S. job growth continued to be undermined by the severe downturn affecting the construction industry as another 75,000 construction workers lost their jobs in January 2010 and the industry’s unemployment rate jumped to 24.7 percent, according to federal employment figures released today. Excluding construction job losses, nonfarm payroll employment actually rose for the second time in three months, the Associated General Contractors of America noted.

Categories: Construction, News