Construction Jobless Rate Keeps Climbing, Hits 27% - Rat Pack International, the FIRST and ONLY Overseas Workers Forum

Justus · 03-13-10, 02:18 AM

Construction Jobless Rate Keeps Climbing, Hits 27%

03/05/2010
By Tom Ichniowski
ENR

Construction's unemployment rate continues to rise, reaching a grim 27.1% in February, its highest level in a decade, the Bureau of Labor Statistics has reported.

In its latest monthly employment report, released on March 5, BLS says that construction's jobless rate last month was up from 24.7% in January and also represented an increase from the February 2009 mark of 21.4%.

BLS reports that construction shed another 64,000 jobs in February, bringing the industry's total job losses since December 2007 to 1.9 million.

The BLS construction jobless rate isn't adjusted for seasonal variations. In the highly seasonal construction industry, even in strong economic times, February tends to be one of the slowest months and that month's jobless rates are relatively high.

Nevertheless, construction's February 2010 unemployment level is its worst monthly figure since 2000, topping the previous high set just one month earlier. In 2000, BLS changed its methodology for classifying industries.

Under BLS's pre-2000 classification system, construction's peak jobless rate since 1948 was February 1983's 27.3%.

The overall national unemployment rate remained at 9.7% in February, the same as the January level.

The Wild Rover · 03-13-10, 04:55 AM

What is happening is a direct result of...We don't make anything in this country anymore! We are a society based on consumerism. Our factories are gone, everything from baby shoes to our cheaply made product problem call centers has been outsourced overseas. We need to push Walmart into the ocean and start over! I have such a hard time buying American made and especially UNION MADE clothing and goods, it is so embarrasing to go to the stores...everything is made in China and Bangladesh, with a simple Polo label, some piece of crap T-shirt some Indian lady made for $5.00 including shipping becomes marked up $100.00, because some fashion magazine says this is the T-shirt to have, and these bastards have slick ad campaigns! WTF! Go drive your Toyota you scum!
It all trickles down. Construction is traditionally slow from Decemebr to Mid February here in the North. Construction workers always take the first hit, before the rest of the economy does. Over the many years I have been working, it was always me and my construction buddies laid off, and my Office worker friends were always asking..."Why can't you just go find another job". I would always look at them and wonder what planet they lived on, like construction projects just grew on trees. Well, the shoe is on the other foot now, sadly, and many of the office people are out of work. What goes around comes around. I did not ask them to just go find work. For many of them, this is the end of the world, and they cannot handle it...no reason to rub their face in it. Go work at Walmart and Home Depot you pukes! It always cracks me up when I go to the dumb ass Home Depot or Lowes, and some young lady working her way through her 2nd husbands paycheck asks if she can assist me in the electrical department. I tell her I am replacing the piston return spring on my Gas Furnace's frammitz alternator. Does she know where they are? Over by the bucket of steam? By the left handed crescent wrenches? Are they made in China? Yep!

More from the Bureau of Labor Statistics...
In February, the civilian labor force participation rate (64.8 percent) and
the employment-population ratio (58.5 percent) were little changed.
The number of persons working part time for economic reasons (sometimes referred to as involuntary part-time workers) increased from 8.3 to 8.8 million in February, partially offsetting a large decrease in the prior month. These in-
dividuals were working part time because their hours had been cut back or be-
cause they were unable to find a full-time job.

03-13-10, 02:18 AM	#1
Justus Subscriber Join Date: Dec 2004 Location: . Rep Power: 980	Construction Jobless Rate Keeps Climbing, Hits 27% Construction Jobless Rate Keeps Climbing, Hits 27% 03/05/2010 By Tom Ichniowski ENR Construction's unemployment rate continues to rise, reaching a grim 27.1% in February, its highest level in a decade, the Bureau of Labor Statistics has reported. In its latest monthly employment report, released on March 5, BLS says that construction's jobless rate last month was up from 24.7% in January and also represented an increase from the February 2009 mark of 21.4%. BLS reports that construction shed another 64,000 jobs in February, bringing the industry's total job losses since December 2007 to 1.9 million. The BLS construction jobless rate isn't adjusted for seasonal variations. In the highly seasonal construction industry, even in strong economic times, February tends to be one of the slowest months and that month's jobless rates are relatively high. Nevertheless, construction's February 2010 unemployment level is its worst monthly figure since 2000, topping the previous high set just one month earlier. In 2000, BLS changed its methodology for classifying industries. Under BLS's pre-2000 classification system, construction's peak jobless rate since 1948 was February 1983's 27.3%. The overall national unemployment rate remained at 9.7% in February, the same as the January level. __________________

03-13-10, 04:55 AM	#2
The Wild Rover Council Member + Join Date: Dec 2004 Location: Eastern Europe Rep Power: 1050	More... What is happening is a direct result of...We don't make anything in this country anymore! We are a society based on consumerism. Our factories are gone, everything from baby shoes to our cheaply made product problem call centers has been outsourced overseas. We need to push Walmart into the ocean and start over! I have such a hard time buying American made and especially UNION MADE clothing and goods, it is so embarrasing to go to the stores...everything is made in China and Bangladesh, with a simple Polo label, some piece of crap T-shirt some Indian lady made for $5.00 including shipping becomes marked up $100.00, because some fashion magazine says this is the T-shirt to have, and these bastards have slick ad campaigns! WTF! Go drive your Toyota you scum! It all trickles down. Construction is traditionally slow from Decemebr to Mid February here in the North. Construction workers always take the first hit, before the rest of the economy does. Over the many years I have been working, it was always me and my construction buddies laid off, and my Office worker friends were always asking..."Why can't you just go find another job". I would always look at them and wonder what planet they lived on, like construction projects just grew on trees. Well, the shoe is on the other foot now, sadly, and many of the office people are out of work. What goes around comes around. I did not ask them to just go find work. For many of them, this is the end of the world, and they cannot handle it...no reason to rub their face in it. Go work at Walmart and Home Depot you pukes! It always cracks me up when I go to the dumb ass Home Depot or Lowes, and some young lady working her way through her 2nd husbands paycheck asks if she can assist me in the electrical department. I tell her I am replacing the piston return spring on my Gas Furnace's frammitz alternator. Does she know where they are? Over by the bucket of steam? By the left handed crescent wrenches? Are they made in China? Yep! More from the Bureau of Labor Statistics... In February, the civilian labor force participation rate (64.8 percent) and the employment-population ratio (58.5 percent) were little changed. The number of persons working part time for economic reasons (sometimes referred to as involuntary part-time workers) increased from 8.3 to 8.8 million in February, partially offsetting a large decrease in the prior month. These in- dividuals were working part time because their hours had been cut back or be- cause they were unable to find a full-time job. __________________ If you pay peanuts, you get monkeys!!!