AGC Outlook Report Says Construction Firms Will Make Fewer Layoffs This Year

Date: 25 January 2012
While construction material prices continue to rise and bid prices remain low, the construction industry now shows 16 percent unemployment,down from 21 percent a few years ago, said Stephen Sandherr, CEO of Associated General Contractors (AGC) of America in Arlington, Va., during a media conference call today.

Construction firms added 50,000 new employees in 2011, even though federal construction projects shrank sharply and there was a 6 percent cut in federal construction,” he said. “In 2012, construction outlook remains mixed. Conditions are stabilizing, but recovery is not expected until 2013.”

Sandherr shared the results of AGC’s 2012 Construction Hiring and Business Outlook report based on survey results from more than 1,300 construction firms from 50 states, the District of Columbia and Puerto Rico.

“Only 9 percent of construction firms are planning to lay off in 2012 compared with 37 percent last year and 55 percent in 2010,” Sandherr said. “And 32 percent of firms report they plan to add new staff in 2012. Half of those firms report plans to add six or more new employees during the next 12 months.”

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600450 AGC Outlook Report Says Construction Firms Will Make Fewer Layoffs This Year
Date: 25 January 2012

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