Posts Tagged ‘unemployment’

Construction Employment Approaches 14-Year Low

October 13, 2010 Leave a comment

Construction employment approaches 14-year low, with another 21,000 jobs lost in September and unemployment rate climbing to 17.2 percent.

The number of people working in construction is approaching a 14-year low now that the industry lost 21,000 jobs in September, while construction unemployment is at a September high of 17.2 percent, according to an analysis of federal employment figures released today by the Associated General Contractors of America. The construction industry continues to suffer from declining investments in construction and broad uncertainty about the future of many federal infrastructure programs and tax rates, association officials noted.

“It has taken less than four years to erase a decade’s worth of job gains as the industry suffers from declining private, state and local construction demand,” said Ken Simonson, the association’s chief economist. “No other sector of the economy has suffered as much for as long as construction.”

Full Press Release: AGC of America

Categories: Construction, News

Obama To Sign $17.6 Billion Jobs Bill

March 18, 2010 Leave a comment

Obama expected to sign the $17.6 Billion jobs creation bill today.  Written into the legislation:

  • Exempt employers from Social Security payroll taxes on new hires who were unemployed.
  • Fund highway and transit programs through 2010.
  • Extend a tax break for business that spend money on capital investments, such as equipment purchases.
  • Expand the use of the Build America Bonds program, which helps states and municipalities fund capital construction projects.

This is the first job creation bill to hit the president’s desk since he trumpeted the need to spur employment during January’s State of the Union address. However, it is viewed by some lawmakers, economists and business leaders as relatively small and ineffective.

High expectations or Hot Air?

American Road & Transportation Builders Association (ARTBA) President & CEO Pete Ruane today released the following statement regarding Senate passage of a bill.

“The jobs bill passed today will stabilize the federal highway and public transportation programs to help maximize employment and economic activity in the 2010 construction season.

More from the ARTBA.

Categories: News

Daily Fill: Headlines & Industry News

March 8, 2010 Leave a comment
Categories: Daily Fill, News

White House To Commemorate One Year Anniversary Of Stimulus Bill

February 17, 2010 Leave a comment

$787 Billion + 1 year + 2 million jobs saved or created = 10% unemployment?  Our calculator must need batteries.

According to a report on the Recovery Act, which Vice President Joe Biden will deliver to the president Wednesday, the bill has created or saved more than 2 million jobs. Sounds like a lot, but consider this: In the states with the highest unemployment rates–Michigan, Nevada, Rhode Island, South Carolina and California–the number of jobs created or saved by the bill amounts to about 1% of the state’s entire workforce. That’s hardly enough to dent 14.6% unemployment in Michigan, or 12.4% unemployment in California.

[employment stimulus]

Categories: 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