10/5/2009

Unemployment in the construction industry rose to 17.1% in September from 16.5% in the prior month, and 9.9% a year ago, according to the Bureau of Labor Statistics. Economists say they saw no positive signs in the latest report and that many of last month's job losses occurred in the non-residential sector. "The housing industry may be stabilizing, but the broader construction crisis is only getting worse. While the stimulus is helping slow the decline, it's clearly far from enough to reverse the sweeping industry-wide layoffs on its own," economist Ken Simonson said.

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