Calculated Risk has an update on his outlook for 2011. He notes a couple of points that keep with the theme of economic improvement for 2011. The ADP employment report today noted:
Construction employment was unchanged in December, ending continuous monthly declines since June 2007. The decline in Construction employment, since its peak in January 2007, is 2,306,000.
Construction is a huge driver of employment in all parts of the country. If I’m counting this right, construction employment has fallen for 41 consecutive months until now. Given that unemployment in the construction trades has been running between 17-20%, this would be a nice change to see if in 2011 we can officially say was the bottom is in.