Related Links: Read the Bureau of Labor Statistics press release View analysis by AGC Chief Economist Ken Simonson View analysis by ABC Chief Economist Anirban Basu The construction industry's unemployment rate edged downward in August, to 13.5% from July’s 13.6%, the Labor Dept.'s Bureau of Labor Statistics reported. Last month's rate also was an improvement over the August 2010 level of 17.0%. But the latest monthly BLS unemployment report, released on Sept. 2, also said construction lost 5,000 jobs in August and construction’s jobless rate was still the highest among U.S. industry categories. Ken Simonson, the Associated General Contractors' chief
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.