The Building Boom Is Prolonging Market Pain

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The Building Boom Is Prolonging Market Pain
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Construction has lowered the unemployment rate—but that isn’t all good news

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has helped push unemployment to around its lowest level in more than 50 years. That is perplexing investors who want to see the Federal Reserve switch course on interest rates.

Construction spending and employment have risen to new records this year, boosted by government outlays for infrastructure, a

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