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Friday, May 02, 2008

457,000 construction jobs lost since September 2006

Wow, that's a brutal figure. Plenty of people are saying that we have hit the bottom and as great as that would be, I don't see it.

457,000. That’s the number of construction jobs that have been lost since the sector peaked in September of 2006.

What’s interesting to me about this number is that at the beginning of the downturn in housing we didn’t see a huge drop in construction jobs, primarily because workers moved from residential into commercial.

Now that commercial is slowing as well, construction workers are falling out of jobs like flies. And they’re not the only ones. Big surprise furniture manufacturing jobs are falling as well.

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