Report Confirms Construction Industry is Still the Worst Hit Sector in US Job Market
Today’s unemployment report confirmed that in the U.S. job market, the hardest hit sector continues to be the construction industry, a key driver of our economy.
According to the Bureau of Labor Statistics, construction unemployment rose from 17.1 percent in September to 18.7 percent in October. That reflects the loss of 62,000 construction jobs in one month, bringing to more than 1.6 million the number of construction jobs lost since the recession began.
Terry O’Sullivan, General President of LIUNA made the following statement today regarding the jobs report:
- Each month tens of thousands of men and women who want to do the job of building America are being thrown out of work. The toll on families, communities, employers and our economy is of crisis proportions.
- Construction jobs tend to be good jobs, with workers’ incomes quickly circulating through and boosting local economies. The work of men and women in the construction industry provides sorely needed improvements to our transportation systems, energy systems and other basics of our nation.
- This is a no-brainer. We can put hundreds of thousands of men and women back to work, boost our economy and build America, while leaving behind real assets and a positive legacy for generations to come.
- We call on Congress to quickly move forward to bring stability to the construction industry and stop the hemorrhaging of jobs through every possible option – including an end to delays on reauthorization of our nation’s surface transportation investment, which alone would support 2.8 million jobs.
Source: http://www.bls.gov/
Posted 9th November 2009
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