Construction Unemployment Rate Drops Down to 12.8 percent. It Gets Increasingly Hard to Find Skilled Workers.

Published: Mar 11, 2014

cwwycoff1 / Foter / CC BY

Construction employment reached its highest level since June 2009 after th industry added 15,000 jobs for the month of February, according to the Associated General Contractors of America (AGC).

This is not all good news, however, as this aggravates the already serious shortage of skilled workers, which contractors have been reporting about. It seems that “workers are still leaving the industry faster than they are being hired”, according to AGC’s chief economist Ken Simonson. And let’s not forget that after the weather conditions improve, the demand is going to grow even higher.

The new job opening contributed to a growht of 2.6 precent compared to the same time last year. Among construction workers actively looking for jobs, unemployment rates fell to 12.8 perecent in Ferbruary. The last time a February unemployment rate was so law was in 2008.

According to AGC, the situation can be remedied by making it “easier for schools, firms and local construction associations to establish training programs.”

Read the full article on AGC’s website.

The following two tabs change content below.
Victor Lance is the founder and president of Lance Surety Bond Associates, Inc. He began his career as an officer in the U.S. Marine Corps, serving two combat tours. As president of Lance Surety, he now focuses on educating and assisting small businesses throughout the country with various license and bond requirements. Victor graduated from Villanova University with a degree in Business Administration and holds a Masters in Business Administration (MBA) from the University of Michigan's Ross School of Business.