Oct. 5, 2007 ― Jobs Report Understates Nonresidential Construction Vigor
Nonresidential construction is still boosting
the economy, today’s employment report from the Bureau of Labor Statistics shows,
despite the homebuilding meltdown, says Ken Simonson, chief economist for the AGC.
Seasonally adjusted total construction employment fell
14,000 in September and was down 112,000 (1.5 percent) compared to the year
before. “But that masks divergent trends in nonresidential and residential
construction,” Simonson says.