Industry Unemployment Hits 11% - ENR | McGraw-Hill Construction
Keywords: finance, management, news articles, construction industry, legislation, ENR, costs, government
Full Article Price:
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Delivery: Immediate Online Access
Publication Date: 28-MAY-08
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Article Description| The recession in the housing market is having a devastating impact on labor markets. Construction’s unemployment rate in April hit 11.1%, according to the U.S. Dept. of Labor. That is by far the largest rate in over a decade and compares to an 8.6% unemployment rate in April 2007 and a 6.9% rate in 2006. Surprisingly, not all the labor-market woes are in homebuilding. While employment in the residential sector was down 11% for the year in April, employment in the nonresidential building sector was down 3.1%, and the number of workers in heavy and civil work fell 5.1% below April 2007’s level. |
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