AGC: Construction unemployment nears 20 percent
Despite a slowing in the number of construction workers losing jobs in November, 19.4 percent of the nation's construction workers are now unemployed according to new federal figures released today. The figures show that unemployment rates within the construction industry remain significantly higher than any other sector of the economy, the Associated General Contractors of America said.
"The fact fewer people lost their job in construction this month is little solace for the one in five construction workers out of a job today," said Ken Simonson, the association's chief economist. "This is yet another reminder that our economy will not be able to fully recover until we find new ways to drive demand for construction services," according to a Dec. 4 Construction News report.