Construction Employment Declined in 28 States From October 2011 to October 2012
Construction employment declined in 28 states from October 2011 to October 2012 even as 31 states and Washington, D.C. added jobs during the past month, according to a recent analysis by the Associated General Contractors of America of Labor Department data. Association officials noted that residential construction gains were being undermined by the broader business uncertainty being caused by the threat of the looming fiscal cliff.
“The industry remains stuck in neutral, with a close balance each month between the number of states that add or lose construction jobs,” said Ken Simonson, the association’s chief economist. “Despite a strong pickup in home building and multifamily construction, uncertainty about the fiscal cliff appears to be holding back private investment, while public agencies keep trimming construction budgets.”