9/9/2013

Unemployment in the construction industry hit a five-year low in August, dropping to 9.1%, compared to 11.3% a year ago. "Over the past three years, the number of unemployed, experienced construction workers has dropped by half," said Ken Simonson, chief economist for the Associated General Contractors of America. "Unfortunately, the construction industry has been able to hire only about a third of those workers, while the rest have left construction for other industries, schooling, retirement, or have dropped out of the labor force."

Related Summaries