The Real Estate Bloggers

Over 20 Percent of Construction Workers Out of Work

Posted: 08 Jan 2011 06:31 AM PST

Constrution-worker If you are in the construction industry you know how tight things are these days. 5 years ago every one was working like crazy and there was never any problem finding great work.

Now, things are very different. According to Associated Builders and Contractors, the unemployment rate for construction workers is 20.7 percent. If you have your ears to the ground you know that rate is probably much higher than that. A large part of worker pool was comprised of undocumented workers that have now left the country or have gotten into other industries.

Add to that the true citizens who left the construction industry all together and you have probably closer to 40 percent less jobs in construction than 2006.

What is ironic is that in 2003 to 2006 the media pundits talked about how construction was the economic leader that was keeping us out of trouble. I guess they were right, but we were just robbing Peter to pay Paul.

“The construction sector is poised to under perform in the year ahead due to a number of factors, including dwindling direct impact from stimulus spending and the ongoing malaise in commercial real estate,” he said a report.

The construction industry continued to shed jobs last year, while other sectors of the economy improved.

“The nation’s construction industry should be glad to see 2010 in the rearview mirror, as the sector ended the year on a dismal note,” Basu said. “It is noteworthy that heavy and civil engineering has lost jobs for two consecutive months, which may be a reflection of the steadily slowing impact of federal stimulus spending. For much of the past year, that segment had been adding jobs.” via the AJC

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Over 20 Percent of Construction Workers Out of Work