arlington

Woodworking Industry News

Construction spending drops to 2002 levels, report says

ARLINGTON, VA — Construction spending tumbled in February by $11.6 billion, or 1.3%, to $846 billion, a low last recorded in 2002, according to an analysis of new federal figures by the Associated General Contractors of America (AGCA). Declines occurred relative to both the month before and February 2009 in most categories of private residential and nonresidential construction, as well as public construction, the association’s chief economist Ken Simonson noted.

Woodworking Industry News

Nearly one in four construction workers are unemployed

ARLINGTON, VA - Deteriorating demand for construction services continued to drag on the economy as new federal figures show another 53,000 construction workers lost their jobs in December and the industry’s unemployment rate climbed to 22.7%. The Associated General Contractors of America said, “(T)he new employment data underscores the need to rethink health care legislation that singles out small construction firms for new mandates and fees.”