The deepening economic recession is taking a tremendous toll on construction workers. In May, construction’s unemployment rate jumped to 19.2%, more than double last year’s 8.6% rate, according to the Bureau of Labor Statistics. The latest unemployment rate represents 1.77 million construction workers who are out of work. In May, total construction employment was 6.3 million, down from 7.3 million a year ago. Source: Bureau Of Labor Statistics. Unemployment Rate For May. Construction Unemployment
The growing need to collect, store and analyze the huge volumes of data collected from infrastructure project stakeholders is generating a new growth area for construction-sector firms, IT vendors and professionals.