CONSTRUCTION EMPLOYMENT DECLINES BY 20,000 JOBS IN NOVEMBER AS MANY CONTRACTORS REPORT MAKING LAYOFFS, HIRING DELAYS DUE TO FISCAL CLIFF

WASHINGTON, D.C. – December 7, 2012 – (RealEstateRama) — Construction employment declined by 20,000 jobs in November while the industry’s unemployment rate hit 12.2 percent, according to an analysis of new federal data released today by the Associated General Contractors of America. The construction employment figures likely reflect the fact many contractors have already cut staff and delayed hiring new employees because of the threat of the “fiscal cliff,” according to results of a survey of member firms the association also released today.