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June Construction Unemployment Down to Single Digits07-09-13 | News
June Construction Unemployment Down to Single Digits





The unemployment rate for workers who last held construction jobs declined to 9.8 percent from 12.8 percent in June 2012, and industry employment in June totaled 5,812,000, an increase of 190,000 jobs year-over-year, or 3.4 percent of the total workforce.
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The unemployment rate for construction workers fell to 9.8 percent in June, down from 12.8 percent in June 2012 (not seasonally adjusted), according to the latest federal unemployment data. The June report is the first time unemployment has been less than double digits since 2008, as every segment of the industry added employees.

"Construction employment in June was the highest since August 2009, but employment is still down by one-quarter from the peak more than seven years ago," said Ken Simonson, chief economist for the Associated General Contractors of America. "Many of those laid-off workers have left the industry "?u whether for employment elsewhere, more education or retirement "?u and construction companies face a looming worker shortage."

The number of unemployed construction workers dropped by 214,000 to 825,000, and all of the June figures were the best for each category since 2008. Aggregate weekly hours of all new and existing construction employees also expanded by 4.7 percent, as companies put more workers on overtime.








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