Dodge Momentum Index Resumes Growth in May

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NEW YORK, N.Y. – Following a dip in April, the Dodge Momentum Index advanced 4 percent in May to 139.1 (2000=100) from its revised April reading of 133.7. 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. In May, the commercial component of the momentum index increased 4.8 percent to an eight-and-a-half year high, which suggests that construction activity for commercial buildings will continue to rise over the next year, even with signs of decelerating … Read more

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Forty-Two States Add Construction Jobs Between May 2016, 2017

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Forty-two states added construction jobs between May 2016 and May 2017 amid growing demand for construction services, while 25 states and the District of Columbia lost construction jobs between April and May as firms struggle to find enough workers, according to an analysis by the Associated General Contractors of America of Labor Department data recently released. Association officials said workforce shortages appear to be impacting construction employment in parts of the country. “There is still plenty of private-sector demand for construction projects, so it is likely that some states with monthly employment declines have a shortage of workers rather than … Read more

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Inaugural ‘Commercial Construction Index’ Indicates High Revenue, Employment Expectations for 2017

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WASHINGTON, D.C. — Commercial construction is in high demand across the country and contractors are confident in the trajectory of the industry, according to the USG + U.S. Chamber of Commerce Commercial Construction Index recently launched. Nearly all contractors surveyed – 96 percent – expect revenues to grow or remain stable this year compared to 2016, with 40 percent expecting an increase and only 3 percent expecting a decrease in revenue. The index is a new quarterly economic indicator designed to gauge what drives the commercial construction industry and its leaders, including specific issues like backlog of work, new business … Read more

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Construction Employment Increases by 11,000 in May to 8-Year High

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Construction employment increased by 11,000 jobs in May to the highest level since October 2008 and average weekly hours set a series high for May as contractors struggled to find enough workers to meet demand for projects, according to an analysis of new government data by the Associated General Contractors of America. Association officials urged lawmakers and other public officials to address the growing shortage of available qualified workers by funding and re-invigorating career and technical education programs. “Construction firms continued adding new jobs at a faster rate than the broader economy during the past year as demand for their … Read more

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Construction Unemployment Rates Improve in 22 States, ABC Says

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WASHINGTON, D.C. — April not seasonally adjusted construction unemployment rates were down in 22 states and unchanged in two (Arkansas and California) on a year-over-year basis, according to analysis released by Associated Builders and Contractors. However, the national NSA construction unemployment rate of 6.3 percent was up .3 percent from April 2016, according to data from the U.S. Bureau of Labor Statistics. Since these industry-specific rates are not seasonally adjusted, national and state-level unemployment rates are best evaluated on a year-over-year basis. “Despite the year-over-year increase, this was the third lowest national not seasonally adjusted April construction unemployment rate on … Read more

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