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Construction’s labor, economic numbers begin to show cracks

July 7, 2022

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Despite the positive year-over-year comparisons, economists said the numbers are beginning to make real the specter of a recession that’s hung over the market for months.

“Signs of economic slowing have become more pervasive over the last several weeks and are now increasingly reflected in labor market data,” said ABC Chief Economist Anirban Basu in a statement. “In response to rising interest rates and declining asset values, corporate layoff activity has been on the rise.”

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