ENR (Engineering News Report) just released an article about the state of the construction industry. The news was not what I was hoping for. When looking at the overall unemployment for all industries across the US, the unemployment rate improved from 10.2% in October to 10.0% in November. This may seem underwhelming, but when compared to the projected increase in unemployment it is a relief to see it going in the right direction. There are a few indirect factors that may have produced the turn around, which I wont get into, but none-the-less it puts our minds at a bit of an ease. Well at an ease if your not depending on the construction industry like myself and my entire family. The construction industry has an outstanding unemployment rate of 19.4%. Fairly simple math can determine the unemployment for construction is nearly double that of the rest of the country. Ouch!
The November unemployment was an increase from 18.7% for that of October. Granted this number is not adjusted for seasonal factors, as construction greatly slows in the winter months, but is still not where I want it to be at.
If one were in hopes of getting a job in the construction field, such as myself, the infrastructure field is really the best bet. The government is/was pumping money into public projects to try to stimulate the construction field. Unfortunately the private sector is still in the dumps. I personally built roads and bridges for two years of internship, and it wasn't the direction I wanted to go. I want to build up not out. I might have to bite the bullet however.
It is good to see that overall our economy is starting to turn around, but the unemployment rate is still double what a healthy economy should be at. Then look at construction unemployment which is double our overall, so quadruple a healthy economy. Times are still tough, and I imagine they will be for a few more years yet. I also don't believe the housing market will ever reach the high it had just a few years ago before the collapse.
ENR: Construction Jobless Rate Climbs To 19.4% in November
The November unemployment was an increase from 18.7% for that of October. Granted this number is not adjusted for seasonal factors, as construction greatly slows in the winter months, but is still not where I want it to be at.
If one were in hopes of getting a job in the construction field, such as myself, the infrastructure field is really the best bet. The government is/was pumping money into public projects to try to stimulate the construction field. Unfortunately the private sector is still in the dumps. I personally built roads and bridges for two years of internship, and it wasn't the direction I wanted to go. I want to build up not out. I might have to bite the bullet however.
It is good to see that overall our economy is starting to turn around, but the unemployment rate is still double what a healthy economy should be at. Then look at construction unemployment which is double our overall, so quadruple a healthy economy. Times are still tough, and I imagine they will be for a few more years yet. I also don't believe the housing market will ever reach the high it had just a few years ago before the collapse.
ENR: Construction Jobless Rate Climbs To 19.4% in November
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