Construction firms could see heavy job loss, says AGC
The Associated General Contractors this week said the construction industry could shed 30% of its jobs this year unless there is help from a federal stimulus package. "While the last few months have been difficult for the economy, they've been simply devastating for the construction industry," AGC CEO Steve Sandherr said. He noted that more than 75% of the group's members have experienced a decline in work projects. The group estimates that about 66% of construction firms will lay off workers this year. Reuters (01/08), BusinessWeek/The Associated Press (01/08), Journal of Commerce (Canada) (01/07), Fox Business (01/08)