Quikrete Industry Dashboard
Get great content like this right in your inbox.Subscribe
Jobs are the big story on the latest Quikrete Industry Dashboard – or more specifically, the rise of unemployment.
After an alarming weekly jobs report on Thursday, Friday morning’s Employment Situation Report from the Department of Labor showed a jump in the unemployment rate to 4.4%.
[Read more about the unemployment numbers here.>
“The job losses in March were no surprise, capturing the early impacts of the COVID-19-induced economic shutdown,” said Lawrence Yun, chief economist of the National Association of Realtors. “The majority of cuts occurred in restaurants, leisure, and travel industries. The construction industry also experienced losses, but principally related to (corporate real estate).”
With dwindling demand for gasoline, the AAA’s stats for the national average price of a gallon of regular gas fell under $2.00. A month ago, the price was $2.43 per gallon.
And stock prices again reflect the havoc created by the coronavirus pandemic. Only SHW has been able to squeak out a positive year-over-year gain.
March’s residential construction report is expected to be released April 16.