Construction Employment Increases by 6,000 Jobs in July, Annual Growth Rate Doubles Hiring Pace

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Construction employment increased by 6,000 jobs in July to the highest level since October 2008, amid a tight labor market that may be keeping contractors from hiring as many workers as they need, according to an analysis of new government data by the Associated General Contractors of America. Association officials urged local, state and federal leaders to enact measures designed to expose more high school students to high-paying careers in construction to offset growing labor shortages. “Construction firms added employees over the past year at a much higher rate than the public and private sectors as a whole, but the … Read more

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Dodge Momentum Index Stumbles in July

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NEW YORK, N.Y. – The Dodge Momentum Index fell in July, dropping 3.3 percent to 135.0 (2000=100) from its revised June reading of 139.6. The momentum index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. The move lower in July was due to a 6.6 percent decline in the institutional component of the momentum index, while the commercial component fell 1.1 percent. This month continues a recent trend of volatility in the momentum index where a string … Read more

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Construction Spending Decreases as Public Investment Tumbles, Private Outlay Grow Slows

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Construction spending in June declined from May but increased from a year ago as public investment shrank for nearly every type of structure, according to an analysis of new government data by the Associated General Contractors of America. Association officials cautioned that the significant declines in public-sector construction spending come at a time when much of the nation’s public infrastructure is deteriorating due to age or overuse. “Construction spending is still increasing overall but growth has become much more uneven across categories in recent months,” said Ken Simonson, the association’s chief economist. “There has been a steep decline in public … Read more

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ABC Reports Construction Input Prices Plod Higher, Energy Prices Down

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WASHINGTON, D.C. — Construction input prices increased .3 percent in July and are up 3 percent on a year-over-year basis, according to an Associated Builders and Contractors analysis of data released by the Bureau of Labor Statistics. Nonresidential construction input prices were in line with overall industry dynamics, increasing 0.3 percent for the month and 2.7 percent for the year. Eight of 11 key construction input prices rose in July. Among the inputs experiencing declines in prices were crude petroleum (down 8 percent) and natural gas (down 7 percent). Natural gas prices have fallen during four of the past six … Read more

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Construction Input Prices Tick Higher in June, Crude Petroleum Prices Rebound

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WASHINGTON, D.C. –Construction input prices rose .2 percent in June, according to an analysis of Bureau of Labor Statistics data released by Associated Builders and Contractors. This represents the sixth increase in construction input prices over the past seven months, but the overall rate of increase has been quite slow. On a year-over-year basis, construction input prices are up 2.6 percent. Nonresidential construction input prices also rose .2 percent in June and are up 2.3 percent on a year-ago basis. Much of the input price inflation in June was due to increased charges for crude petroleum, which registered a price … Read more

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