Two-thirds of commercial builders plan job cuts
The Baltimore Business Journal reports:
An estimated two-thirds of the nation’s non-residential construction companies are planning to cut jobs, according to figures released today by the Associated General Contractors of America. All together, those cuts are forecast to result in a 30 percent decline in the number of people working on construction projects.
The results are based on a survey conducted by the association in late 2008. According to the forecast figures, member companies have seen or are planning for declining activity in every type of construction market, including:
- 93 percent of road builders;
- 92 percent of building contractors;
- 83 percent of utility contractors; and
- 77 percent of water resource contractors in business building levees or locks.
