Steel Markets
December 3, 2020
Pandemic Takes Toll on Construction Employment
Written by Sandy Williams
Only 30 percent of construction firms in the nation’s metro areas added jobs this year, said the Associated General Contractors in a report on Wednesday. Out of 358 metro areas, construction employment fell in 209 areas and was stagnant in 40 others between October 2019 and October 2020.
“The pandemic has devastated the finances for businesses, institutions, and state and local governments, leading to widespread postponements and cancellations of construction projects,” said AGC Chief Economist Ken Simonson. “As contractors use up the funds from Paycheck Protection Program loans, even more job losses are inevitable unless the federal government provides an immediate economic boost.”
