November 9, 2009

Labour

U.S. shed 62,000 construction jobs in October

Workers shouldering a 'withering burden,' contractors association CEO says

October saw the loss of 62,000 U.S. construction jobs, driving unemployment in the industry to 18.7 per cent nationwide, according to new data from the U.S. Bureau of Labor Statistics.

“The figures show that additional measures to stimulate construction demand like the recently passed extension of the home buyers’ tax credit and expansion of carryback for net operating losses are needed,” the Associated General Contractors of America said in a news release.

“The nation’s economic troubles are forcing construction workers to shoulder a withering burden,” said AGCA’s chief executive Stephen Sandherr.

“Helpful as the stimulus has been in saving some construction jobs, it is going to take more work to halt the devastating job losses that are wiping out millions of construction workers’ families."

The data shows construction workers have suffered more job losses than any other segment of the economy, followed closely by manufacturing, which lost 61,000 jobs in October, Sandherr said.

Of the jobs lost in October, 47,000 were in the non-residential construction sector, while 15,000 were from the residential construction sector.

Since December 2007, residential and non-residential construction employment has declined by over 1.6 million, according to the AGCA.

Sandherr urged Congress and the Obama Administration to take additional measures outlined in the association’s construction recovery plan, designed to boost construction activity, increase employment and expand the economy. “Construction workers are ready to drive economic growth, instead of dragging it down,” Sandherr said.

-RCD Digital Media

Print | Email | Comment