Contractors Kept Hiring in July, Adding 25K Jobs

August 07, 2024

Construction maintained its streak of monthly jobs gains in July, but an overall slowdown in hiring and an increase in the nationwide unemployment rate, to 4.3%, cast doubt on the ability of the U.S. economy to sustain growth moving forward.“It appears that America is headed into recession,” said Anirban Basu, chief economist for Associated Builders & Contractors. While noting that some economists have been predicting an economic slowdown for more than two years—himself included—Basu said, “The recent slowing in economic activity feels different. Unemployment is climbing rapidly. 

Read more.