"The stimulus is one of the very few bright spots theconstructionindustry experienced last year and is one of the fewhopes keeping itgoing in 2010," according to a statement by KenSimonson, theassociation's chief economist. Simonson was unable toreturn a call to GlobeSt.com in time for publication.
New federal reports show that $20.6 billion dollars worth ofstimulushighway projects were initiated over the past 12 months,whichsaved or created nearly 280,000 construction jobs--or 15,000jobs perbillion dollars invested.
At the same time, heavy and civil engineeringconstructionemployment was stable last month even as totalconstructionemployment declined by 75,000. All of these factorssuggest that thestimulus is having a stabilizing impact on the industry, Simonsonsaid.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
