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According to the recent study it is estimated that the US construction industry will face a quarter million workers shortage towards the end of next year and this figure is different from what the current statistics show now.
The analyst at the Macroeconomic advisors have quoted that the by the end of next year there will be a shortage of almost 250,000 construction employees. They have quoted this by using the figures of the Labor Department and unpublished data of the private sector ADP National Employment Report.
There are also of the opinion that construction employment has already fallen far below the current payroll report and the figures stand at 160,000 jobs shortage.
As many as 14,000 jobs will be lost per month by the next one and a half years.
Many reasons are stated by the economist for this huge shortage in employment in the construction industry. Some of them are undocumented workers layoff, the companies slow adjustments, undercounting etc.
Another new study reports that there is major layoffs only in large and medium sized construction companies but the small companies have never witnessed any major layoffs. It has also pointed out a different type of construction prevalent these days.
Finally the economist are of opinion that as the spending on construction has declined the construction activity has also declined and hence this sudden change in employment payoffs that is witnessed lately.
09:03
Posted on Jul-12-2007
