About Amerisurv| Contact    
Magazine | Newsletter    
Flickr Photos | Advertise    
HomeNewsNewsletterAmerisurv DirectoryJobsStoreAuthorsHistoryArchivesBlogVideosEvents
Register to receive the Amerisurv Newsletter | Also See Our LiDAR News Newsletter | RSS Feed  
advertisement


Subscriptions
Sponsored By

Software Reviews
Continuing Series
     RTN
An RTN expert provides everything you need to know about network-corrected real-time GNSS observations.
Click Here to begin the series,
or view the Article PDF's Here
76-PageFlip Compilation
of the entire series
Test Yourself

Got Answers?
Test your knowledge with NCEES-level questions.
  Start HERE
Meet the Authors
Check out our fine lineup of writers. Each an expert in his or her field.
Wow Factor
Sponsored By


Product Reviews
Partner Sites

machinecontrolonline 


lbszone.com

GISuser.com

GeoJobs.biz

GeoLearn

 

Spatial Media LLC properties

Associates

ASPRS

newsnow 

  The American Surveyor     

Construction Unemployment Rises to 17.3 Percent in October Print E-mail
Written by Associated Builders and Contractors   
Friday, 05 November 2010

"As has been the case for many months, segments of the nonresidential construction industry continue to hemorrhage jobs, with the one big exception being heavy and civil engineering." —ABC Chief Economist Anirban Basu.

The construction industry unemployment rate rose to 17.3 percent in October, up from 17.2 percent in September, according to the November 5 jobs report by the U.S. Labor Department. This is down slightly from 18.7 percent one year ago. On a seasonally adjusted basis, the construction industry gained 5,000 jobs in October, but has lost 122,000, or 2.1 percent, over the past twelve months.

Nonresidential building construction employment slipped by 1,800 jobs in October and is down 12,200 jobs, or 1.7 percent, since October 2009 as employment stands at 685,400 jobs. In comparison, residential building construction lost 2,200 jobs for the month and 28,500 jobs, or 4.7 percent, from the same time last year.

Heavy and civil engineering construction employment gained 4,800 jobs in October, representing the fifth straight monthly increase. On a year-over-year basis, heavy and civil engineering construction has added 28,500 jobs, or an additional 3.5 percent. Nonresidential specialty trade contractors added 7,300 jobs in October, bouncing back after losing 12,700 jobs in September. However, employment in this category is down by 58,700 jobs, or 2.8 percent, from one year ago.

Private employment increased for the tenth straight month, gaining 159,000 jobs in October, and is up by 1,107,000 jobs, or 1 percent, from the same time last year. Total employment across all industries increased by 151,000 jobs following four straight months of job losses, and is up by 829,000 jobs, or 0.6 percent, from October 2009.

Overall, the nation’s employment level is down by 330,000 jobs in October following increases of 290,000 jobs and 141,000 jobs in August and September, leaving the national unemployment rate unchanged at 9.6 percent from the previous month.

Analysis
“Today's jobs report adds to the already abundant supply of confusion,” said Associated Builders and Contractors Chief Economist Anirban Basu. “While many observers will be delighted to know that the nation added 151,000 jobs last month, easily exceeding the expectations of 60,000 amongst the broader economic community, the household survey indicates that the labor markets continued to deteriorate.

“In other words, according to the establishment survey, the nation added jobs. However, according to the household survey, the nation lost jobs last month,” said Basu. “Meanwhile, the unemployment rate remained unchanged, which adds further confusion to the direction of the U.S. labor market.

“The construction unemployment data are just as convoluted. As has been the case for many months, segments of the nonresidential construction industry continue to hemorrhage jobs, with the one big exception being heavy and civil engineering. For the fifth consecutive month, that sector added jobs,” Basu said.

“With the October employment data representing the best performance since August, the question is how to interpret this employment growth. If the rise in construction employment is merely a reflection of ongoing stimulus projects, then it is not a leading indicator of job growth in other sectors, but merely represents a temporary phenomenon,” said Basu.

“However, if job growth is related to planning of future developments, including privately financed projects, this represents a very good sign of broader nonresidential construction rebound,” Basu said.

To view the previous employment report, click HERE

 
< Prev   Next >

deliciousrssnewsletterlinkedinfacebooktwitter

Amerisurv Exclusive Online-only Article ticker
Featured Amerisurv Events
List Your Event Here
please
contact Amerisurv


Google
 
AMERISURV TOP NEWS

JAVAD Intros
Spoofer Buster

GOT NEWS? Send To
press [at] amerisurv.com
Online Internet Content

Sponsor


News Feeds

 
Subscribe to Amerisurv news & updates via RSS or get our Feedburn
xml feed

Need Help? See this RSS Tutorial

Historic Maps
Careers

post a job
Reach our audience of Professional land surveyors and Geo-Technology professionals with your GeoJobs career ad. Feel free to contact us if you need additional information.

 

Social Bookmarks

Amerisurv on Facebook 

Amerisurv LinkedIn Group 

Amerisurv Flickr Photos 

Amerisurv videos on YouTube 

twitter

 




The American Surveyor © All rights reserved / Privacy Statement
Spatial Media LLC
905 W 7th St #331
Frederick MD 21701
301-620-0784
301-695-1538 - fax