The Collapse of Construction Employment

Here’s a great chart from the BLS showing the collapse of construction employment from May 2006-10.  No surprise the largest declines are in the four housing bubble states — Nevada, Arizona, Florida, and California.   Stunning employment in this sector is down 40-55 percent and one reason why the traditional monetary transmission mechanism is broken — lower rates sparks construction spending and thus hiring of construction workers.

(click here if chart is not observable)

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One Response to The Collapse of Construction Employment

  1. Pingback: The Collapse of Construction Employment | Forex news

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