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AGC: Two-thirds of nation's construction companies planning layoffs this year

Post Time:Jan 08,2009Classify:Industry NewsView:140

An estimated two-thirds of the nation's non-residential construction companies are planning to cut their payrolls, according to new employment and business forecast figures released today by the Associated General Contractors of America, Arlington, Va. All told, those layoffs are forecast to result in a 30 percent decline in the number of people working on construction projects.

"Unless the business climate changes significantly and soon, the construction sector will continue to experience the kind of devastating job losses and crippling declines in business activity that will undermine efforts to end the recession," said Stephen Sandherr, the association's chief executive officer, in a Jan. 8 AGC release.

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