Saturday, March 31, 2012

State of Construction: The Best and Worst (Mostly Worst)

"Let's take a look at national construction employment. According to the latest available data (February, 2012) from the Bureau of Labor Statistics Construction Sector website, national construction employment peaked in April 2006 at 7,726,000 workers. Today, construction employment stands at 5,554,000 workers. Over the last six years, 2,172,000 construction jobs have been lost. The decline is actually larger, given that the undocumented workforce is prevalent on construction jobsites but not in government records.

The two million-plus construction jobs lost are real. These were workers who actually produced something in America. The strongest, most capable producers in society have been reduced by 30%. Unlike when the BLS statistician deletes one million people from the workforce and pretends that they no longer exist, these workers remain out there. As the industry continues in decline, the long-term consequences remain unknown. You can't take one third of an industry and hit "delete" without negative consequences arising somewhere. Here we have an early look at the fundamental transformation of America at work." [American Thinker]



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