The entire economy is reeling from the recession, but construction particularly has been hit hard. In June, the total construction unemployment rate was 17.4%, according to the Bureau of Labor Statistics. By comparison, the unemployment rate for the overall economy was 10%. Both numbers are not seasonally adjusted. Construction employment rose only in North Dakota and Louisiana, up 5% and 4%, respectively. Jobs disappeared at an alarming rate in the remaining 48 states, including year-to-year declines of 26% in Arizona, 23% in Nevada, 22% in Connecticut and 20% in Tennessee, according to BLS. The impact of federal stimulus spending is expected to ease job losses in the second half of the year.
Construction’s Labor Force Is Hit Hard by Unemployment Spike
July 22, 2009
Source: Bureau of labor statistics. Construction unemployment rate for June.