Dive summary:
- The number of people working in construction stayed about the same in August as it was in July while the industry's unemployment went down, and Associated General Contractors of America says that is a bad sign for contractors who hope to take advantage of the slowly growing demand for their services.
- The unemployment drop from 11.3% a year ago to 9.1% last month stems not from more workers being on projects but from a decline in the number of workers who think it's worth trying to get a job in the industry.
- AGC recently issued the results of a survey of firms and found that a majority say they are having trouble finding workers, especially experienced craftsmen.
From the release:
“After a strong rebound in 2012, construction hiring and spending have been stuck in neutral through most of 2013,” said Ken Simonson, the association's chief economist.