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January 9, 2009

Construction industry warns of big job cuts

  • But an industry group said stimulus spending on infrastructure could grow the construction work force as much as 25 percent.
    • By STEPHEN MANNING
    AP Business Writer

    WASHINGTON — Construction companies that build roads, commercial buildings and public works projects could cut up to 30 percent of their workers in the coming year because of an anticipated downturn in construction activity, an industry group said Thursday as it pushed for big infrastructure spending in President-elect Barack Obama's economic stimulus plan.

    About two-thirds of the nation's nonresidential construction companies plan layoffs this year, with most expecting declines in business next year, according to estimates by the Associated General Contractors of America, which represents about 33,000 companies.


     
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