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Value of starts plummets, Reed says; construction jobs shrink, local wages diverge |
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AEM (May 13, 2009) - The value of new nonresidential construction starts fell 8% from March to April, Reed Construction Data reported on Wednesday, based on its own data collection. Construction again bore a disproportionate share of job losses in April. Construction wages rose sharply a year ago when nonresidential construction was booming. "Preliminary tax collection data for the January-March quarter of 2009 show widespread and sharp declines for most states for all three major sources of tax revenue, as well as total taxes," the Rockefeller Institute reported on Wednesday. |
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Posted on 5/14/2009 |
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