Many construction workers who lost jobs after the recession have - TopicsExpress

Many construction workers who lost jobs after the recession have been rehired A recent Bureau of Labor Statistics (BLS) study shows the majority of skilled workers who lost their jobs after the recession hit already have been rehired in the construction industry, according to equipmentworld. The study reports that 62 percent of the 393,000 skilled workers who lost their construction jobs between 2011 and 2013 have been re-employed as of January. Of those who have returned to the industry, 6 percent are working part-time and 10 percent are self-employed or unpaid family workers. The total number of workers—long-tenured or otherwise—who left the construction industry at that time was 1.03 million; 63 percent are re-employed but not necessarily in the construction industry. The construction industry has added 609,000 jobs since its low point in January 2011. The industrys unemployment rate has fallen to 7.5 percent from 27.1 percent in February 2010. Although it is encouraging that many skilled workers have returned to the construction industry, the industry still faces a skilled labor shortage, causing some companies to turn down work as a result. One issue that could contribute to this problem is the BLS study reports many returning skilled workers are earning less than they did before, which could lead them to pursue other industries. The study shows 40 percent of skilled workers who returned to the industry are making as much or more than what they were making when they lost their jobs; 22 percent are making between the same amount and 20 percent more, and 18 percent have increased their earnings by 20 percent or more. However, 30 percent of skilled workers are earning less than what they were making when they lost their jobs; 23 percent say their earnings fell 20 percent or more, and 7 percent say their earnings fell no more than 20 percent. On the employer side, a survey conducted by the Associated General Contractors of America and SmartBrief showed 67 percent of firms are paying skilled workers more this year than in 2013, and 80 percent said they would pay even more.

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