ABC: Construction Job Openings Decreased by 3,000 in April, Down 45% Since December 2023

  • Posted on

The construction industry had 248,000 job openings on the last day of April, according to an Associated Builders and Contractors’ analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry job openings decreased by 3,000 last month and are down by 78,000 from the same time last year. “Construction labor market churn remained unusually slow in April,” said ABC Chief Economist Anirban Basu. “The rates of hires, layoffs and quits are all low by historical standards, and … Read more

Filed under: Economic NewsTagged with: , , ,

ABC: Nonresidential Construction Spending Dips .1% in April

  • Posted on

National nonresidential construction spending decreased .1% in April, according to an Associated Builders and Contractors’ analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.248 trillion. Spending was down on a monthly basis in 6 of the 16 nonresidential subcategories. Private nonresidential spending was down .5%, while public nonresidential construction spending was up .5% in April. “Construction spending slipped in April as headwinds like trade policy uncertainty, high interest rates and tight lending standards continued to batter industrywide momentum,” said ABC Chief Economist Anirban Basu. “Nearly 22% of contractors reported tariff-related … Read more

Filed under: Economic NewsTagged with: , ,

ABC: Construction Materials Prices Tame in April Despite Rising Iron, Steel Costs

  • Posted on

Construction input prices decreased 0.1% in April compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices increased 0.2% for the month. Overall construction input prices are 0.1% higher than a year ago, while nonresidential construction input prices are 0.2% higher. Prices decreased in all three energy categories last month. Natural gas prices were down 7.1%, while prices for unprocessed energy materials and crude petroleum were down 5.0% and 4.9%, respectively. “Construction input prices declined in April, but that was largely due to … Read more

Filed under: Economic NewsTagged with: , ,

ABC: Backlog, Profit Margin Expectations Improve in April Despite Tariff Impacts

  • Posted on

Associated Builders and Contractors reported that its Construction Backlog Indicator rose to a 20-month high of 8.7 months in April, according to an ABC member survey conducted April 22 to May 6. The reading is up 0.3 months since April 2024. Backlog has increased significantly over the past year for contractors with greater than $100 million in annual revenues. While backlog has also risen modestly for the smallest contractors, it is down on an annual basis for those with $30 million to $100 million in annual revenues. ABC’s Construction Confidence Index reading for profit margins improved in April, while the … Read more

Filed under: Economic NewsTagged with: , ,

Associated Builders and Contractors Releases Latest Construction Spending Analysis

  • Posted on

National nonresidential construction spending decreased .5% in March, according to an Associated Builders and Contractors’ analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.25 trillion. Spending was down on a monthly basis in 11 of the 16 nonresidential subcategories. Private nonresidential spending fell .8%, while public nonresidential construction spending was down .2% in March. “Nonresidential construction spending fell sharply in March, with declines spread across virtually every private subsector,” said ABC Chief Economist Anirban Basu. “Data center investments, which accounted for more than 70% of the increase in private nonresidential … Read more

Filed under: Economic NewsTagged with: , ,