Jan 09, 2012
Unemployment down — and construction employment up
09 Jan 2012
Posted by Andrew Kantor
You’ve probably seen the news that the US unemployment rate is down yet again.* Even better, for the first time since 2006 there’s been an increase in the number of people employed in construction; about 46,000 new jobs were created in 2011 (20,000 in residential construction, 26,000 in non-residential).
This may not sound like a lot, but consider that for the past four years the construction industry has lost jobs every year — 2.2 million since 2005. So an increase, even a modest one, is very, very good news.
* I won’t talk specific numbers, because the way the Bureau of Labor statistics is so out of whack with reality, but the rate is down.