Construction Employment Enduring Decline in Spite of Their Small Increase of ...

Construction Employment Enduring Decline in Spite of Their Small Increase of ... Construction employment fell in May by 28,000, the largest decline in two years, and is now at the very lowest level since last August, according to an analysis of new federal data released today by the Associated General Contractors of America. Private sector demand for construction expanded by 1. The nonresidential construction sector lost 17,400 construction jobs in May, Simonson noted. Association officials said the new construction employment and spending figures underscore the need for quick Congressional action on a number of long-term infrastructure measures, including reauthorizing clean water and surface transportation programs. Meanwhile, construction spending in April increased by 0. 2 percent for the month and 12. "With construction employment shrinking for the fourth month in a row, the industry is clearly having a difficult start to the year," said Ken Simonson, the association's chief economist. 2 percent drop from the April 2011 level. "Getting a highway and transit bill passed would certainly help counter any possible backslide in construction employment," said Stephen E. 3 percent. Nonresidential building contractors added 1,500 for the month. Residential construction lost 11,000 total jobs as the residential specialty trade contractors shed 10,000 jobs and residential builders lost 1,000 positions in May. 4 percent monthly decline in public construction activity and a 3. 8 percent compared with April 2011 and is now at an annualized rate of $820. 7 billion. 5 percent year-over-year, but overall growth was held back by a 1. "While the overall economy will need to be much stronger before private sector construction activity and employment begin to approach pre-recession levels, investments in infrastructure will certainly help put more construction workers back on the job. Construction Employment Enduring Decline in Spite of Their Small Increase of ... Trade News selected by Local Linkup on 02/06/2012