The numbers are in from the Department of Labor, which has released the annual unemployment figure averages which tracks jobless rates of over 500 career occupations. Among the data was encouraging news for individuals in the skilled trade sector, one of the hardest hit by the “Great Recession.”
Professional trade skills have seen an increase in demand since 2011, up from the dismal levels of 2010. A recent bump in demand for home remodeling has led to a downturn in unemployment rates for some professions: cabinetmakers from 20.3% to 11.2%, electricians 19% to 12.1% and carpenters 22.1% to 16%.
Chief economist at the National Association of Home Builders David Crowe says, “Its all relative and [that] growth is respectable, given the status of the economy and housing in particular.”
But Crowe cautioned individuals shouldn’t start uncorking champagne bottles just yet. “It’s conceivable that the improvement we’re looking at [in the unemployment rates] is loaded in the last quarter.” Construction for multi-family homes was robust for Autumn 2011 but required less labor than single -family unit, which may have led to numbers being skewed to a degree.
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