According to the latest industry figures from the Associated General Contractors Association (AGC):
“The construction industry added 5,000 jobs in April while the industry’s unemployment rate declined slightly to 17.8 percent, nearly twice the national average, according to an analysis of new federal employment data released [earlier this month] by the Associated General Contractors of America. Association officials said the figures continue a year-long trend of little change in construction employment after years of steep declines and predicted the stagnation is unlikely to change soon.”
In a press release from the AGC, their chief economist, Ken Simonson, states:
“The construction industry may have stopped bleeding jobs, but there is no sign that employment levels are set to bounce back. With declines in public sector investments likely to offset increases in some private sector construction activity, we are unlikely to see significant increases in construction employment for the foreseeable future.”
This sends two messages: while there is some additional work, we still must endure stagnation in the industry a while longer.
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