In November, the construction industry shed 20,000 jobs and its unemployment rate reached 12.2%, according to an analysis by the Associated General Contractors of America. Such data might indicate the threat posed by the so-called fiscal cliff, blamed by some for contractors laying off workers and reducing hiring.
"As disappointing as these numbers are, they will only get worse if Congress and the White House allow huge tax increases and spending cuts to occur," AGC Chief Economist Ken Simonson said.
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