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.
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."
az family.com
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Our situation had been getting worst, I don't believe with what economist say that our economy has started to rebound, with the unchanging percent of unemployment rate--that is unbelievable, really. With the recent issues that we had including oil companies can say that our economy hasn't recovered yet. And that the recent issue about the Mexico Guld Oil spill made it it more complicated. Now, financing is not an easy thing to get for oil companies, ever since the BP oil spill it has only gotten worse. Citgo was trying to raise cash by selling bonds, and was unable to because of everyone's nerves with oil right now. Instead they are now taking out short term loans from the bank for a lot less money and trying to sell bongs nevertheless, with little success. They still are barely scrapping by. This oil spill has caused mass devastation for every person in ways they might not even realize, not just those living by the Gulf of Mexico and the animals within the ocean; this disaster has spread much further than that.
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