Construction employment fell in 209, or 58%, of the country’s 358 metro areas year-over-year in October, according to an analysis by the Associated General Contractors of America.
Only 108 metro areas, or 30%, in the U.S. reported an increase in construction employment over the past year; construction employment in 40 other metro areas remained stagnant.
“The pandemic has devastated the finances for businesses, institutions, and state and local governments, leading to widespread postponements and cancellations of construction projects,” stated Ken Simonson, AGC’s chief economist. “As contractors use up the funds from Paycheck Protection Program loans, even more job losses are inevitable unless the federal government provides an immediate economic boost.”
The full AGC report can be found here.
