Tuesday, April 10, 2012

Construction Industry Employment Declines

While the overall American economy added 120,000 jobs in March, and the architecture and engineering sector gained 3,600 jobs, the construction industry as a whole lost 7,000 jobs, with gains in heavy civil construction and residential construction more than offset by losses in commercial building construction.  Ken Simpson, chief economist of Associated General Contractors of America says he believes the figures imply that skilled tradespeople are leaving the industry. Associated Builders and Contractors chief economist Anirban Basu remarks about the job decline, “The first quarter of 2012 will be judged as a step backward for the industry as construction spending levels stagnated and employment momentum disappeared.”

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