If you are in the construction industry you know how tight things are these days. 5 years ago every one was working like crazy and there was never any problem finding great work.
Now, things are very different. According to Associated Builders and Contractors, the unemployment rate for construction workers is 20.7 percent. If you have your ears to the ground you know that rate is probably much higher than that. A large part of worker pool was comprised of undocumented workers that have now left the country or have gotten into other industries.
Add to that the true citizens who left the construction industry all together and you have probably closer to 40 percent less jobs in construction than 2006.
What is ironic is that in 2003 to 2006 the media pundits talked about how construction was the economic leader that was keeping us out of trouble. I guess they were right, but we were just robbing Peter to pay Paul.
“The construction sector is poised to under perform in the year ahead due to a number of factors, including dwindling direct impact from stimulus spending and the ongoing malaise in commercial real estate,” he said a report.
The construction industry continued to shed jobs last year, while other sectors of the economy improved.
“The nation’s construction industry should be glad to see 2010 in the rearview mirror, as the sector ended the year on a dismal note,” Basu said. “It is noteworthy that heavy and civil engineering has lost jobs for two consecutive months, which may be a reflection of the steadily slowing impact of federal stimulus spending. For much of the past year, that segment had been adding jobs.” via the AJC
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Construction industry is going worst and is not only in the United States, countries like Spain are also going trough the same situation.
Construction industry is going worst and is not only in the United States, countries like Spain are also going trough the same situation.
The is the worst housing mess we have ever seen. We are luxury home builders and real estate brokers here in Asheville NC and we have built no homes in the last 9 months as clients are having a tough time getting construction to perm. loans these days. We are hoping that the distressed properties go quickly and the market corrects itself so we can start building again.
We are also experiencing a lag in development and an economic downturn. Hopefully we'll see a turn around soon.
Absolutely, I personally know construction workers that were laid off of management position and now cannot find a job anywhere. It is truly unfortunate, especially since many construction workers are trained in a single area, making their skills less transferable than many other careers.
If there is no construction work to be done, then the Real estate business will suffer and eventually close down.
The construction industry creates an enconomical bliss that incapsulates the circie of life.From the ancient civilation of the Incas to the common paitroit of the America`s.The U.S. government have "short sold it`s citizens into a dismal enviroment. The woven fabric of constant change has been severed, due to the fact of government intervention. If we could just wait for the markets to adjust it`s self` we would find a more deffinate dollar! Allow the forclosures, reduce the inventories,raise the intrest rate,get back to the ligittment barrower!There I have solved it all.