Friday, January 7, 2011

► On the Record

“With a national unemployment rate now at 9.4 percent – the lowest rate since May 2009 – this is an indication that the labor market is improving reasonably quickly. However, this does not seem to be the case with the construction industry as today’s numbers may be a reflection of numerous factors in the economy including still subdued confidence among business owners and decision-makers.”

-- Associated Builders and Contractors Chief Economist Anirban Basu following a report by the U.S. Labor Department that said the construction industry ended 2010 with a jobless rate of 20.7 percent.