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| March 12, 2010
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Unemployment Rate Rises to 27.1% As Sector Loses 64,000 Jobs |
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The unemployment rate for construction workers jumped to 27.1 percent in February, the U.S. Bureau of Labor Statistics reported last Friday.
That rate is up from the 21.4 percent construction sector unemployment registered during February 2009. Construction companies cut 64,000 jobs in February. Had the sector been stronger, the nation would have gained net jobs last month rather than recording a loss of 36,000 positions. Since peaking at 7.725 million jobs in June 2006, construction employment has fallen by 28 percent to 5.55 million positions -- the lowest number in 14 years. The nation's overall unemployment rate in February was 10.4 percent (9.7 percent seasonally adjusted). Questions regarding this article may be directed to editor@aashtojournal.org. |