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Construction Industry News

Construction Employment Continues Slide
Saturday, 27, March 2010


January results for the city’s construction industry were the worst in nearly five years, according to the New York Building Congress. An analysis of employment data showed the industry produced 106,500 jobs in January, the lowest figure in 58 months, the Building Congress says.Local construction employment typically dips during the winter months, but the January tallies show a 12% decline from the year prior and a 16% drop from January 2008.

For the first time since February 2007, construction employment fell below 120,000 in October 2009, and has declined each month since then, the Building Congress reports. It peaked at 136,900 jobs in August 2008 as the building boom ebbed.The figures do not include workers in related industries, including architects and engineers. Nor do they include construction workers who work for government agencies, a labor pool the Building Congress describes as relatively small.Average earnings for all New York City construction workers dropped to an estimated $63,300 in ‘09, down from $68,800 in ‘08 and $65,800 in ’07.



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