Where, o' where, has my bailout dough gone, 'eh?
"Construction jobs in Mass. at 10-year low; Deep decline has many vying for same spots" by Casey Ross, Globe Staff | March 16, 2009
Job losses are accelerating in every corner of the construction industry in Massachusetts, leaving thousands of people in a race to find work as the sharp economic downturn halts work on new homes, office towers, and retail stores.
Employment among construction workers is down by 23,000 jobs statewide, a reduction of 16 percent, reflecting a rush in layoffs as work has stopped on building projects across the state. As their prospects worsen, legions of carpenters, ironworkers, and electricians are being forced to compete for a dwindling pool of jobs....
The sharp downturn has ended a prolonged building boom that was fueled by easy credit and a strong housing market. Now, constraints on lending are preventing developers from getting money to start work....
WHERE did all that BAILOUT DOUGH go, huh? It was supposed to loosen up the credit markets, not go into a banker's pocket!
Homeowners are also feeling the pinch, delaying renovations and other odd jobs that have helped sustain construction workers during previous downturns.
"Building has just ceased. There is nothing happening," said Tim Fraser, president of Commonwealth Resources, a recruiting agency for the construction industry. "It's amazing how many good people are out of work. They have no interviews and no prospects."
Hi.
:-(
Labor leaders said they are hoping for help from the federal government's $787 billion economic stimulus bill, which is expected to result in $500 million to $600 million in road and bridge improvements in Massachusetts.
I just LOVE FALSE HOPES, don't you?
But government work is the only sector that looks promising.
That is a SAD COMMENTARY on AmeriKa!!!!
Since the early 1990s, construction activity has been constant. In Boston, ironworkers, electricians, and carpenters were sustained by the $15 billion Big Dig, as well as the start of work on the South Boston waterfront, where developers initiated work on several acres of office buildings, condominium towers, and retail stores.
Yeah, that TAXPAYER LOOTING "sustained" working people.
Do you know how SICK I AM of ELITE INSULTS from the Boston Globe, readers?
I'm sorry, but THEIR JOURNALISTS SUCK! They have INCULCATED the ELITISM of the Globe directors -- and IT SHOWS in their WRITING!!!!
Today, the Big Dig is done and work on the waterfront is stalled.
Yeah, but WE WILL BE PAYING the DEBT on it FOREVER!!!!! See: The Big Pit
Steel is still rising at construction sites at Russia Wharf and Fan Pier, but work on those buildings started many months ago, before the economy fell into a recession. Less than a mile away, in Downtown Crossing, the $700 million redevelopment of the Filene's block remains on hold. The developer recently said he still can't get a loan....
Anthony Fedele, a journeyman carpenter for more than 20 years, said he rises at 5 a.m. to look for jobs. He's been out of work for seven months, and keeps getting turned away at local construction sites. For now, that's OK because his state unemployment benefits have been extended for another five months. But then what? He has four children under 14, and construction is as slow as he's ever seen it....
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