The impact of recession is still haunting the Americans in the form of unemployment, particularly in the construction sector. When the overall job market is considered, the unemployment rate dropped to 9.7% in January 2010 from 10% in December 2009. this states that nearly 14.8 million workers in US were unemployed. However, there were some signs of recovery in many fields and the economic advisor of the White House predicted that there would be job growth by this spring. There was a slight growth in temporary positions and retail fields this year.
The overall situation looks OK but the case looks different in construction sector as this field is experiencing continuous job losses. According to the U.S. Bureau of Labor Statistics (BLS), construction employment fell by about 75,000 this January. It says that the employment in construction field fell by 1.9 million since December 2007 when the recession started.
It also states that nonresidential specialty trade contractors were worst hit by the decline in jobs in this sector. They alone accounted for some 48,000 job losses in this segment.
Apart from this sector, transportation and warehousing were the other industries which experienced the continuous job losses in January this year.
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