Construction Reporter
  • Home
  • Services
    • Planroom
    • Printing
    • Project Upload
    • Architects & Owners
    • General Contractors
    • Subcontractors
  • Free Trial
  • Become a Member
  • Magazine
  • News
  • Contact Us
  • About
    • About
    • FAQs
    • Privacy Policy
  • Employment Opportunity

latest job numbers show improved summer picture

9/8/2020

0 Comments

 
Picture
For the third month in a row, the number of people unemployed nationally has declined, suggesting a continuing economic recovery along the lines of past post-recession periods.

According to the newest Department of Labor report, the unemployment rate in August fell to 8.4%, a decrease of nearly 2% from July’s 10.2%.

Viewed from the beginning of the Covid-19 outbreak in March, when the unemployment rate soared to nearly 15%, the numbers are even more impressive.

Analysts say a gradual re-opening of the economy, particularly in the retail and services sectors, helped drive the new numbers.

At the same time, according to the Labor Department, “the advance number for seasonally adjusted insured unemployment during the week ending August 22 was 13,254,000, a decrease of 1,238,000 from the previous week’s revised level.”

The hospital and leisure sectors saw significant improvements, adding 174,000 new workers. But it was pointed out that these numbers were far less impressive compared to the 621,000 new jobs created in these sectors earlier this summer.

The construction industry added 16,000 new jobs in August. Those jobs were primarily in the booming housing sector. At the same time, infrastructure and non-residential building was off by 11,000 jobs.

Compared to the country at large, the overall construction industry unemployment rate in August was marginally lower at 7.6%.

In a statement, Stephen Sandherr, chief executive officer with the Associated General Contractors of America, remarked: “It is clear that the commercial construction industry will not begin to recover until Washington can enact responsible new recovery measures.”

While acknowledging the generally positive jobless trend line, William Spriggs, chief economist with the AFL-CIO, noted that a “key issue going forward in the recovery is the continued drop in the number of workers reporting they are on temporary layoff,” versus the “growing number with permanent job loss, which stood at 3.4 million in August.”
​
While the current unemployment rate is 6.3% lower than what it was this spring, notes the publication Business Insider, “there were still 11.5 million fewer employed in August than in February, before the coronavirus began spreading widely in the U.S.”

By Garry Boulard

0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Get stories like these right to your inbox.
    ​Sign up for our newsletter

    Subscribe

    Archives

    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017

    Categories

    All

AFFILIATES

Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
Picture
HOME
PLANS & PRICING
FREE TRIAL
MAGAZINE​
BECOME A MEMBER
PRINTING SERVICES
FAQS
CONTACT
​ABOUT

TIMELY, RELIABLE NEWS SINCE 1949 ​Construction Reporter
​
4901 Mcleod Rd NE STE 200A
Albuquerque NM 87109


​Phone: (505)-243-9793
Toll Free: (877)-292-5793
​Fax: (505)-242-4758

Copyright © 2022 Construction Reporter
User Agreement   Privacy Policy   Archive Policy
  • Home
  • Services
    • Planroom
    • Printing
    • Project Upload
    • Architects & Owners
    • General Contractors
    • Subcontractors
  • Free Trial
  • Become a Member
  • Magazine
  • News
  • Contact Us
  • About
    • About
    • FAQs
    • Privacy Policy
  • Employment Opportunity