Unemployment Rate Hits 8.5%

Companies shed 663,000 jobs in March

CONSTRUCTION

(Source: Getty Images)

Construction cut 126,000 jobs with declines occurring throughout the industry. Employment in construction has fallen by 1.3 million since peaking in January 2007; nearly half of that decline occurred over the last 5 months. President Barack Obama’s stimulus plan allocates $27 billion to boost state spending on new construction projects.

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