NEWS TO BUILD ON Author: JAMES THORNER Date: Jan 25, 2008
Home construction is way down, but plenty else is going up.
The housing slump has whacked construction employment by about 20 percent in the past year. So you would expect construction worker pay to nosedive.
You would be wrong.
In one of the many oddities in this tumultuous economy, construction of hotels, hospitals, power plants and offices is picking up much of the slack from declining home sales, said Ken Simonson, chief economist of the Associated General Contractors of America.
Source: St Petersburg Times