constructionunionsThe unemployment rate for the construction industry increased to 22.5 percent in January, as the sector lost 32,000 jobs in December 2010, according to the Associated General Contractors of America.

Harsh winter weather likely contributed to some of the industry layoffs in January, according to a statement. The construction industry lost a total of 130,000 jobs in 2010.

"It may be a new year, but the construction industry is still suffering from the same economic conditions that kept its unemployment rate so high last year," said Ken Simonson, the association’s chief economist. "With stimulus work starting to dry up, Congress proposing major funding cuts and private demand still weak, it is hard to see how the industry will add jobs this year."

Simonson added that the industry’s job losses came from the nonresidential construction sector, which lost 35,300 jobs between December and January, while the residential sector added 3,500 jobs. Nonresidential specialty trade contractors were hardest hit, losing 21,000 jobs. Heavy and civil engineering construction lost 7,000 jobs.

Construction Industry Experiences Record Job Loss

by Banker & Tradesman time to read: 1 min
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