Dive summary:

• The latest U.S. jobs data shows that employment is down in the construction industry, and contractors' worries about higher federal taxes and reduced spending are taking a heavy toll on confidence for the near future, Associated Builders and Contractors says.
• Nonresidential took a heavier hit than did residential in the latest release, with employment dropping 6,800 in nonresidential and 3,200 in residential.
• Worrisome are the results of an ABC survey of 551 firms, with 54% already taking actions, including some layoffs, because of fear that Congress and the White House will be unable to keep the tax increase and mandatory spending cuts of the so-called fiscal cliff from taking effect on New Yerar's Day.

From the release:

Should tax rates increase, nearly two-thirds of firms (63 percent) that haven't already acted report they will change their business plans next year. Among the changes those firms would make, 62 percent say they will postpone or cancel capital expenditures, 59 percent say they will delay hiring and 31 percent say they will reduce the size of their workforce. ...