Monday, February 8, 2010

25% Unemployment?

While the general unemployment number recently dipped below 10%, the jobless percentage of construction workers has nearly reached 25%--another indication that land use trends don't seem poised to grow positive anytime soon:

The U.S. construction industry’s unemployment rate hit 24.7% in January as another 75,000 American construction workers lost their jobs.

The Associated General Contractors of America noted that excluding construction job losses, American employment rose in January for the second time in three months. Ken Simonson, the association’s chief economist: “Unlike the rest of the economy, the construction industry continues to shed jobs at virtually the same rate in January as it has for the past twelve months. The stimulus appears to be the only bright spot for an industry suffering from depression-era unemployment levels.”

Read the entire story from Lasner here.

--Chad Emerson, Faulkner U.

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