A construction estimators new construction estimations says the number of jobs lost due to the recession has more than doubled over the past five years.
The report was released Tuesday.
Construction experts say the numbers are based on information from federal and local governments.
The number of new construction jobs created by the recession fell to an average of 3,000 per month in 2010, according to the Bureau of Labor Statistics.
But the report shows a much higher number of workers lost to job losses.
Construction industry experts say there is a lot of blame to go around.
The job losses have been especially large in the last couple of years, said James O’Donnell, president of the National Association of Realtors.
Construction job losses averaged 5,000 a month during the downturn, he said.
“The recession is the reason we’re seeing the jobs numbers are way down,” O’Brien said.
“We’re in a very tough spot.”
According to the U.S. Bureau of Economic Analysis, there are approximately 16.2 million workers in the construction industry.
The bureau projects construction will have lost a total of 3.7 million jobs by 2020.
A new survey from the UBS Group shows the construction job losses over the next five years are at least twice the national unemployment rate of 5.9 percent.
The survey found the unemployment rate among construction workers is a whopping 24.9% while those who are employed in the private sector has a rate of 4.2%.
The construction industry has seen a significant jump in the number and rate of construction job layoffs, said Gary Burtless, senior economist at UBS.
In the past few years, the construction construction industry in the United States has seen significant job losses due to economic factors, he added.
Burtless said it is possible the unemployment data may be underreported.
Construction jobs are more vulnerable to the vagaries of weather and the economic cycle.
“The construction jobs are actually being lost in areas where the economy is weak,” he said, noting that the jobs are being cut in places like West Virginia, where unemployment has risen sharply.
The construction and building industries are key components of the U,S.
Burtings report said that the total amount of construction-related jobs in the US. reached a record high of 14.2 billion in April.
It said there are an estimated 15.2.
million construction jobs in every state, which includes construction workers in Alaska, Hawaii, Montana, Nebraska, North Dakota, South Dakota, Texas, Washington and Wisconsin.
The BLS projects the number will continue to grow as new industries emerge, such as energy and transportation.
The construction industry is expected to be the most heavily impacted by the economic downturn, according the BLS.
The BLS said that between 2010 and 2020, there was a 6.5 percent increase in construction jobs.
The overall construction job market was a record $11.3 trillion, and the unemployment percentage increased to 7.1 percent in April of this year.