National Construction Unemployment Rate Ticks Up to 4.9 Percent in July

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WASHINGTON, Wash. – The national not seasonally adjusted construction unemployment rate was 4.9 percent in July, up 0.4 percent from a year ago, but still the third lowest July rate on record—matching the July 2001 rate, the U.S. Bureau of Labor Statistics reported. Unemployment rates increased in 34 states on a year-over-year basis, but the construction industry employed 186,000 more workers than in July 2016, according to an analysis released today by Associated Builders and Contractors. Rates fell in 14 states and were unchanged in two. Because these industry-specific rates are not seasonally adjusted, national and state-level unemployment rates are … Read more

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Hidden Opportunities Merge from Construction Industry Challenges

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CHICAGO, Ill. – Growing materials costs and dwindling talent pools coupled with looming political and economic uncertainty are leaving construction leaders grappling with serious challenges. But where there is greater challenge comes greater opportunity. According to JLL’s latest report on United States construction activity. there is stability ahead with indicators showing a growing backlog of contractor work and seasonal construction spending up 5.7 percent year-over-year. But that’s not all. A closer look at the construction industry’s biggest challenges reveals some unexpected opportunities amidst the adversity. Challenge or opportunity? You decide. The seemingly interminable labor shortage. Construction unemployment continues to reach … Read more

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Architecture Billings Index Growth Moderates

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WASHINGTON, D.C. – For the sixth consecutive month, architecture firms reported increasing demand for design services as reflected in the July Architecture Billings Index. As a leading economic indicator of construction activity, the ABI reflects the approximate 9-12-month lead time between architecture billings and construction spending. The American Institute of Architects reported the July ABI score was 51.9, down from a score of 54.2 in the previous month. This score still reflects an increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 59.5, up from a reading of 58.6 the … Read more

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July Construction Starts Increase 6 Percent

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NEW YORK, N.Y. – The value of new construction starts in July advanced 6 percent from the previous month to a seasonally adjusted annual rate of $728.1 billion, it was reported by Dodge Data & Analytics. Leading the way was a 26 percent jump by the nonbuilding construction sector, which reflected an improved level for public works and the start of two massive power plants, located respectively in California and New York. Residential building in July increased 8 percent, as multifamily housing rebounded after three consecutive monthly declines. Running counter was a 7 percent slide for nonresidential building following its … Read more

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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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