The RGJ reported that the Washoe County unemployment rate Jumped from 12.4 % to 13.1 % in August. This was due, in part, to a loss of 400 construction jobs. Even though the rates rapid rise has slowed in recent months, it is the highest since they began keeping records in 1976.
The outlook also is grim at the Nevada chapter of the Associated General Contractors, whose members work mostly on roads, buildings and other capital projects.”There’s just nothing out there to bid on,” executive director John Madole said.
But wait, there’s more.
Even with an economic revival, many U.S. jobs lost during the recession may be gone forever and a weak employment market could linger for years.
That could add up to a “new normal” of higher joblessness and lower standards of living for many Americans, some economists are suggesting.
Remember when we were told that if the government didn’t act immediately we could see 10% unemployment? So, how’s that hope ‘n change working?