"Today's dismal employment report provides a dire reminder of the unprecedented economic challenges facing millions of construction workers nationwide. The Bureau of Labor Statistics reported that the industry lost 126,000 jobs in March, seasonally adjusted, and 928,000 jobs over the past 12 months. Even though construction accounts for only 5 percent of the workforce, construction layoffs now account for almost 20 percent of total job losses this past year. With construction unemployment at 21.1 percent, not seasonally adjusted, compared to 9 percent (8.5 percent seasonally adjusted) for the entire nonfarm economy, the industry suffers the dubious distinction of having the highest unemployment rate of any sector. Indeed, this year alone the construction unemployment rate has shot up a shocking 9.1 percent. These grim figures underscore the urgent need to turn stimulus announcements into contract awards. Getting as much work started as quickly as possible is the best way to get unemployed construction workers back on the job," said Ken Simonson, chief economist for the Associated General Contractors.
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