How did the decline in construction in the late 2000s affect the labor market?
A) It resulted in a decrease in labor supply.
B) It resulted in an increase in labor supply.
C) It resulted in a decrease in labor demand.
D) It had no effect on the labor market.

Question

Quizplus · Accepted Answer

The decline in construction resulted in a decrease in labor demand. With fewer construction projects being initiated, firms required fewer workers, leading to layoffs and increased unemployment in the construction industry.

How Did the Decline in Construction in the Late 2000s