Construction employment in New York City is expected to drop by 8.3% this year, but, according to the most recent report from the New York Building Congress, that number represents a significant shift from last year’s doomsday prediction.
The Building Congress’ annual Construction Outlook predicts that despite a 20% drop in construction spending for 2009 – down to $25.8 billion from $32.4 billion in 2008 – the number of jobs lost this year will top out around 11,000. A year ago, the same report anticipated the industry would lose 30,000 in 2009.