Strong Employment Numbers Ease Industry Recession Fears

Following months of volatility in the stock market, along with record high inflation and supply chain issues, some economists are bracing for a coming recession. In construction, there are always those seeing signs of a coming downturn in the cycle, but others see reasons to remain optimistic. “As of now, I still consider recession unlikely. Employment and wages are still growing strongly,” says Ken Simonson, chief economist at the Associated General Contractors of America. “In fact, with job openings at record highs and the unemployment rate near a record low, it appears likely that labor income will increase further. That, in turn, supports an expansion of consumer spending.” READ FULL ARTICLE>>