Few sectors have faced more employment setbacks as a result of the economic downturn in the U.S. than the construction industry. However, there are signs that more work is becoming available, reducing jobless numbers.
As the American Surveyor recently highlighted, construction firms added 2,000 new positions in June, bringing the unemployment rate to 12.8 percent for those in the industry. The figure was down sharply from May, when it stood at 14.2 percent, as well as from the same time last year when the figure stood at 15.6 percent.
"Today’s employment report is a bit of good news for the construction industry, but is widely viewed as disappointing," said Associated Builders and Contractors Chief Economist Anirban Basu. "During the first three months of this year, the nation added 226,000 monthly jobs on average. During the past three months, the average monthly gain has been just 75,000 jobs."
There are other signs that suggest the sector is poised for a recovery. McGraw-Hill Construction's 2012 Dodge Construction Outlook Midyear Update showed that project starts are projected to increase by 2 percent during 2012.
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