Skilled Construction Workers the "New Long-Term Unemployed"
Date 12/15/2010
Analyst Pegs Skilled Construction Workers as "New Long-Term Unemployed"
As printed in the CNR St. Louis:
"When I hear 'structural unemployment,' I think about the electrician, the carpenter, and the bricklayer, because they will not be put back to work any time soon. The drivers for construction just aren't there," said Scott Colbert, senior vice president and chief economist for Commerce Bank.
The biggest missing driver is demand for new homes.
Colbert presented his economic outlook at Commerce Bank's annual Economic Breakfast on December 8.
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