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WASHINGTON, DC – At the onset of 2009, the American economy was in serious trouble. It was battered and bruised by the collapsing housing and credit bubbles, and the resulting turmoil was instigating massive job losses in every sector of the economy – especially, the U.S. construction industry.
As the ARRA funds have worked their way through the economy over the past year, the economic freefall that defined our nation one year ago today has abated. In fact, the Council of Economic Advisors has found that the ARRA has had a positive impact on our nationÂ’s GDP. Recent upticks in GDP growth are heartening for the U.S. construction industry, which is struggling with unprecedented unemployment that has now reached 25% nationwide, a number that would have certainly been greater had no action been taken.
Despite its detractors, the evidence is clear: the American Recovery and Reinvestment Act is working and has helped our nation turn a corner through sound investments that are creating jobs, tax cuts for the middle class, and much-needed COBRA and unemployment insurance benefits for working Americans. However, we must continue efforts to fundamentally strengthen our economy, as we know there is no such thing as a jobless ‘recovery’. We expect Congress and the Administration to address the concerns of the American people and as always, America’s Building Trades Unions stand ready to assist them in any meaningful efforts to strengthen our economy and put Americans back to work.
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The Building and Construction Trades Department is an alliance of 13 national and international unions that collectively represent 2.5 million skilled craft professionals in the United States and Canada
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Building And Construction Trades Dept,
Tom Owens
202-756-4623 towens@bctd.org
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