Thursday, July 11, 2013

Construction Unemployment Falls to 9.8 Percent

Unemploymet Rate Lowest June Level Since 2008
Unemployment Rate Lowest June Level Since 2008
The unemployment rate for construction workers fell below double digits in June for the first time since 2008 as every segment of the industry added employees, according to an analysis of new government data by AGC of America. Association officials said the relatively positive jobs report for the sector highlights the need to address potential shortages of skilled and entry-level workers.
“Construction employment in June was the highest since August 2009,” said Ken Simonson, the association’s chief economist. “But employment is still down by one-quarter from the peak more than seven years ago. Many of those laid-off workers have left the industry—whether for employment elsewhere, more education or retirement—and construction companies face a looming worker shortage.”

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