Jobless Rate Falls, But Industry Adds Just 1,000 Jobs in August
Construction's unemployment rate continued to head downward in August, dipping to 11.3% from July's 12.3%, but the industry posted a gain of only 1,000 jobs last month. The Bureau of Labor Statistics' latest monthly employment status report, released on Sept. 7, also showed that construction's jobless rate last month was better than the 13.5% level for August 2011. But industry officials said one factor behind the construction unemployment rate's decline is that many workers have left the construction industry. "While we all breathe a sigh of relief any time the sector adds jobs, these numbers are hardly cause for celebration," says Stephen Sandherr, CEO of the Associated General Contractors of America.