If you’re looking for a Boston construction job, you might have trouble finding one, thanks to the economy.
The State of Massachusetts has seen its construction industry dramatically decline during recent months. According to an article by the Boston Herald, the state has lost 10,000 construction positions during the last three months and the industry consists of only 120,000 jobs statewide.
“Industry leaders blame the job decline on the poor economy and lending restrictions that prevent developers from getting money to start work on homes and commercial buildings,” the article notes. “In addition, many homeowners are delaying renovations, another source of jobs.”
Some leaders are hoping the recently-passed Recovery and Reinvestment Act, worth $787 billion, will help the state’s construction industry. The stimulus bill is expected to result in $500 million to $600 million for road and bridge improvements in Massachusetts.
As a whole, Massachusetts’ construction industry employed 120,400 workers during January, according to the United States Department of Labor Bureau of Labor Statistics. This is down from 122,600 workers during December 2008 and a 11.8 percent decrease from last year.
The Boston-Cambridge-Quincy area’s construction industry employed 79,300 workers during January, down from 88,300 workers during December and a 12.7 percent decrease from last year. The area had a total non-farm employment of 2,413,700 workers during January, down from 2,479,800 workers during December and a 2 percent decrease from last year. During December, the area’s unemployment rate rose from 5 percent to 5.8 percent.