Construction Unemployment Rate Hits 17.3%

Commenting on the construction industry job loss, the Associated General Contractors of America (AGCA), the construction industry trade association, noted that July was the third consecutive month of construction employment declines. In a statement, Stephen Sandherr, AGCA’s CEO, said “The fact that this industry continues to suffer from unemployment rates nearly double the national average is a reflection of how much demand for construction has cratered in little more than two years.”

Moreover, Sandherr said in the same statement that since July 2008, construction employment has declined by a total of 1,591,000 jobs, or 22%. “Worse yet,” said Sandherr, “there’s every indication that as the benefits of the stimulus fade the industry’s employment picture will get even worse.”