R.I. construction sector sheds 12% of jobs
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BLOOBMERG NEWS / JIM R. BOUNDS
THE CONSTRUCTION INDUSTRY in Rhode Island added the fifth-most jobs in the country last month. Above, a carpenter works on a home in Garner, N.C., this week.
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PROVIDENCE – The construction industry in Rhode Island lost 12.5 percent of its work force in the 12 months ended last month, with 2,500 jobs lost, according to data released by the Associated General Contractors of America on Friday.
North Dakota was the only state that did not experience job losses in the construction sector over the past year, the Arlington, Va.-based trade group said. Arizona lost the largest share of jobs in the industry as employment fell by 42,600, or nearly 25 percent.
The report included some good news for in Rhode Island. The state posted a month-to-month gain in construction jobs, with 400 added in October to bring the total number to 17,500. The 2.3 percent increase was the fifth-highest in the nation.
Massachusetts added 100 construction jobs, putting employment at 108,400, but the total number of industry jobs in the Bay State was off 17 percent compared to October 2008.
“A shockingly large portion of the construction industry’s work force has simply evaporated,” said Ken Simonson, chief economist for the association.
He added that the national construction unemployment rate of 18.7 percent was the highest of any sector in October, and the industry accounted for one-fifth of all job losses in the past year even though construction only employs 1 out of every 20 workers.
The association has called on Congress to pass legislation that would pay for infrastructure projects over and above those already being paid for under the economic stimulus law enacted earlier this year.
Thanks for the information and I think that the construction has worstly affected by the economic financial crisis.It will take some time to recover from this financial crisis but looking at the jobs available or shedded in the construction sector,it seems that the ssector is improving day-by-day.
Thanks,
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