Construction Sector Adds 16,000 Jobs in June

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Construction employment increased by 16,000 jobs in June to the highest level since October 2008, signaling a new burst of hiring after three months of pause, according to an analysis of new government data by the Associated General Contractors of America. Association officials urged federal, state and local lawmakers to enact measures to make it easier for school officials, local associations and construction firms to set up construction training programs. “Construction firms added employees over the past year at nearly double the rate of the overall economy, but the record-low unemployment rate for construction workers shows companies are having to … Read more

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Dodge Momentum Index Moves Higher in June

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NEW YORK, N.Y. – The Dodge Momentum Index took another step forward in June, increasing 1.1 percent to 141.1 (2000=100) from its revised May 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. June’s lift was due to a 4.8 percent advance by the institutional component of the momentum index, while the commercial component fell 1.3 percent. The momentum index has exhibited substantial strength since mid-2016, with the institutional and commercial components … Read more

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ABC’s Construction Backlog Indicator Rebounds in 2017

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WASHINGTON, D.C. –The most recent Construction Backlog Indicator from the Associated Builders and Contractors rose to 9 months during the first quarter of 2017, up 8.1 percent from the fourth quarter of 2016. CBI is up by .4 months, or 4 percent, on a year-over-year basis. Highlights by Region Surging financial markets helped support activity in financial centers like New York, Philadelphia and Boston. Expanding cyber-security and life sciences activity supported markets as geographically diverse as Washington, D.C./Baltimore, Maryland; Austin, Texas; Silicon Valley, California and Seattle, Washington. Though backlog is slightly lower in the South on a year-over-year basis, it … Read more

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Jobs Report Offers Reasons for Hope and Concern for Construction Industry, ABC Says

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WASHINGTON, D.C. — National construction employment added 11,000 net new jobs on a seasonally adjusted basis in May according to analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. The nonresidential construction sector added 4,400 net new jobs in May after losing 1,000 net jobs in April (revised down from a net increase of 3,200 jobs), while the residential sector added 7,100 net jobs for the month. Overall construction employment expanded 2.9 percent on yearly basis, well above the year-over-year growth rate of 1.6 percent for all nonfarm industries. “Today’s jobs numbers supply a mixture … Read more

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Construction Input Prices Flat, Crude Petroleum Prices Plummet, ABC Says

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WASHINGTON, D.C. — Construction input prices remained unchanged in May, ending five consecutive months of price expansion, according to analysis of  Bureau of Labor Statistics data released by Associated Builders and Contractors. Construction input prices expanded 3.4 percent on a year-over-year basis. Nonresidential construction input prices also remained unchanged on a monthly basis but increased by 3.1 percent on a yearly basis. Only crude petroleum prices experienced a significant month-over-month change in May, with prices falling 19.6 percent from April’s level. Natural gas prices remain significantly higher—up 66 percent—from the same time one year ago. “Since March 2016, construction input … Read more

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