WASHINGTON -- While today's jobs report shows America's unemployment rate remained steady at 9.7 percent last month, one section of the economy is getting worse.
When it comes to the construction industry, the unemployment rate is more than 27 percent, triple the overall unemployment rate.
"It was grim," said Ken Simonson, an economist who tracks the numbers for the Associated General Contractors of America. "Construction continues to be on the bleeding edge of job losses."
Economists say the situation is not expected to get better any time this year. Simonson said just about every construction firm has laid off people in the last year, and as projects end more workers are getting let go. Many have moved on to other industries.
The bright spots for construction are road projects and power companies trying to become more green; today President Obama visited Opower, a company in Virginia that works to make homes more energy efficient. They are actually looking to hire.
But it will be well into next year before this becomes the norm for the construction industry.
As a result, the construction industry is still making a pitch saying now is the time to get construction done -- you will never get a better price or faster service.
