Despite an increasing number of federal stimulus projects under way, construction’s unemployment rate rose in September as the industry lost 64,000 more jobs. Industry officials say the American Recovery and Reinvestment Act has been a help but has not halted construction’s continued huge layoffs. Note: Rates Are Not Seasonally Adjusted Source: U.S. Dept. Of Labor Bureau of Labor Statistics The industry’s September jobless rate climbed to 17.1%, from 16.5% in August, the Bureau of Labor Statistics reported on Oct. 2. Construction’s rate remains the highest among industries. The 17.1% mark also was well above the industry’s September 2008 level of
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.