The construction industry has fallen on its hardest times since the Great Depression, shedding 75,000 jobs last month and single-handedly dragging February's national employment figure into the red, according to data. Unemployment in the construction sector remained near 25%, with desperate contractors forced to place low, and even below-cost, bids for public-work projects. "It's just dog-eat-dog right now," said one contractor. "People are just in survival mode."

Related Summaries