Contractors cut 59,000 jobs in May, the fewest since last September. There were substantial cuts in heavy construction where the construction stimulus program has yet to be significant, and relatively few cuts in nonresiden-tial buildings where construction spending has declined the most. At least 100,000 more layoffs are expected yet this year followed by more than 200,000 new jobs by the end of 2010. The hiring ahead will be mostly for residential and heavy construction work. For more analysis, visit our Economic Outlook at ConstructionEquipment.com.
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