Economist forecasts construction to add 140k jobs in 2013
| January 29, 2013 |
Piggybacking off of news earlier this month that the construction industry added 30,000 jobs in December, a report from the Associated Press cites a forecast that projects the industry adding 140,000 jobs in 2013.
Patrick Newport, an economist at IHS Global Insight, made the projection, noting what a massive improvement it would be over 2012 — only 18,000 jobs total were added in 2012 after employment gains were followed by losses and back and forth.
The report notes that the home improvement retail sector might see some benefit from this as well, noting that Lowe’s has said it will hire 45,000 temporary workers come Spring, along with 9,000 permanent workers.
Just yesterday, the Senate passed a bill now on its way to the White House that will provide victims and metro areas affected by Superstorm Sandy with $50.5 billion in recovery funding. The funding is expected to be a boost for the industry.