Rising anxiety over the so-called fiscal cliff caused construction employment in New York to fall 5.2 percent year-over-year, an analysis by the Associated General Contractors of America of Labor Department shows.
The prospect of federal tax increases, combined with spending cuts, has made contractors anxious, and resulted in 16,100 fewer construction jobs in New York, year-over-year — bringing the number of construction jobs statewide down to 292,200. In November, New York lost the most construction jobs in the country, though the District of Columbia lost a greater percentage of jobs, with a 7.4 percent decrease, or 1,000 fewer jobs, year-over-year.
Only 20 states and the District of Columbia added construction jobs between November 2011 and November 2012, while employment shrank in 30 states.
Association officials cited a recent survey of 550 construction firms that showed firms have already delayed hiring or reduced staff. -Hiten Samtani