Great Recession construction bust (2008-2010)
Construction shed more than two million jobs as the housing collapse took hold. Layoffs spiked each month and unemployment in the sector topped 20%, driving many skilled workers out of the industry for good.
Thousands of contractors shut down; experienced carpenters, electricians and supervisors left construction.
The loss of experienced tradespeople helped create the skilled-labor shortage contractors now struggle to fill.
It frames the contrast: in 2009 firms shed workers en masse; in 2026 they are hoarding them at record-low layoff rates.
