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Nothing could be further from the truth.</p>
<p>Just look at the job reports from last year. Manufacturers are adding jobs, retailers are adding jobs, healthcare is adding jobs, and even with the outsourcing problems, there are plenty of openings for computer scientists and programmers. The only sector of the economy that is bad and continuing to get worse is the construction industry, which is strongly tied to civil engineering. Construction spending continues to decline, housing prices and sales are struggling, and unemployment in the construction industry is worse than the unemployment rate during the Great Depression in many cities.</p>
<p>You’d need a couple of magnitude 8 earthquakes and a few dozen Cat 5 hurricanes to get major cities, and even that might not be enough to wipe out the housing surplus.</p>