Labor Data Points to Beginning of Job Creation Process
01/08/2010
According to a recent report by the Portland Cement Association (PCA), which represents cement companies in the United States and Canada, the combination of BLS upward data revisions and better than expected job market performance resulted in only 501,000 job losses during August-December 2009 versus a predicted 861,000.
"There is evidence that the job creation process has already begun," Ed Sullivan, PCA chief economist said. "Typically, extended work hours, overtime, and temporary hiring precede job creation." If the labor market sustains its better than expected performance from the fourth quarter, it could lead to a quicker healing of the underlying fundamentals surrounding construction, Sullivan said.
Most Read
-
-
What’s Driving Record Industrial Real Estate Demand
Q1 2021
-
2020 Top States for Doing Business Showcase Their Pro-Business Environments
Q3 2020
-
2020 Gold & Silver Shovel Awards Recognize State and Local Economic Development Efforts
Q2 2020
-
35th Annual Survey of Corporate Executives Commentary: Change in Site Selection Priorities and Plans Over the Short and Long Term
Q1 2021
-
17th Annual Consultants Survey: Consultants Are Optimistic About the Year Ahead
Q1 2021
-
Challenges of Moving Manufacturing Out of China
Q1 2021