Bloomberg: Fewer Construction Jobs
Sunday, December 03, 2006
From Bloomberg: "The housing slump is also resulting in job cuts at construction companies and related industries. Builders shed 26,000 jobs in October, the most since February 2003, the Labor Department said. 'The weakness in orders and obvious further declines in housing-related activity suggests more weakness in coming months,' said Steven Wieting, managing director at Citigroup Global Markets."
"'Construction and manufacturing are certainly the anchors weighing down growth at the moment,' said economist Joshua Shapiro. 'Consumer spending is hanging in there, but there are certainly a lot of crosscurrents that will lead to pretty anemic growth in the fourth quarter and probably the first quarter as well.'"
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