Modest Improvement Brings Jobless Rate to 14.7 Percent
WASHINGTON, April 5, 2013 /PRNewswire-USNewswire/ -- According to the Labor Department, only 88,000 jobs were added overall in the U.S. in March, lowering unemployment by 0.1 percent to 7.6 percent. In a key sector of the economy, the construction industry, the jobless rate remained in double digits – falling from 15.6 percent to 14.7 percent as about 18,000 jobs were added.
Terry O'Sullivan, General President of LIUNA, made the following statement about the jobs report:"While any improvement is good news, the construction industry remains in recession with a 14.7 percent unemployment rate. This is an economic sector that has the potential to breathe life into much of the economy – or continue to slow recovery. "Investing in our nation's critical infrastructure – our roads, bridges, transit systems, energy systems and water resources – can boost the economy with good jobs. And the investment itself will also spark growth and leave behind real assets for taxpayers and future generations. "Congress should act to seize this opportunity. The U.S. Senate budget proposal invests $100 billion to lower unemployment, fix our nation's failing infrastructure and establish a national infrastructure bank for future needs. It ends sequestration while reducing the federal deficit by $1.85 trillion over 10 years. It's time to reject Wall Street driven austerity and invest in building America and our future." The half-million members of LIUNA – the Laborers' International Union of North America – are on the forefront of the construction industry, a powerhouse of workers who are proud to build America. SOURCE Laborers' International Union of North America