Construction Employment Increases in 217 Out of 358 Metro Areas Between April 2016, 2017

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Construction employment increased in 217 out of 358 metro areas between April 2016 and April 2017, declined in 89 and stagnated in 52, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials noted that construction firms in many parts of the country continue to expand headcount amid strong private-sector demand for their services. “Construction employment continues to expand in the majority of the nation’s metro areas,” said Ken Simonson, the association’s chief economist. “Many firms are adding new employees as they work to keep pace with demand for new private-sector … Read more

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Entering Height of Construction Season Design Billings Increase

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WASHINGTON, D.C. – After beginning the year with a marginal decline, the Architecture Billings Index has posted three consecutive months of growth in design revenue at architecture firms. 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 April ABI score was 50.9, down from a score of 54.3 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 60.2, up from a … Read more

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Construction Employment Increases by 5,000 in April, Labor Shortages Limit New Jobs

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Construction employment increased by 5,000 jobs in April to the highest level in more than nine years amid strong demand for new construction services, according to an analysis of new government data by the Associated General Contractors of America. Association officials cautioned, however, that a shortage of available qualified workers likely limited the number of new jobs added last month. “Construction firms continued adding new jobs at a faster rate than the broader economy during the past year as demand for their services remains strong,” said Stephen E. Sandherr, the association’s CEO. “But many firms would likely have added even … Read more

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First Quarter Building Cost Index Reflects Strong Market Conditions

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The First Quarter 2017 Turner Building Cost Index—which measures costs in the nonresidential building construction market in the United States—has increased to a value of 1,019. This represents a 1.29 percent quarterly increase from the Fourth Quarter 2016 and a 5.05 percent yearly increase from the First Quarter 2016. As the market appears to continue its upward trend, the availability of skilled labor continues to influence the decision making of subcontractors, who are maintaining a selective approach to pursuits so as not to become overburdened. Additionally, while material delivery lead times have been relatively consistent throughout the last few quarters and … Read more

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Dodge Momentum Index Loses Steam in April

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NEW YORK, N.Y. – The Dodge Momentum Index fell 5.1 percent in April to 133.8 (2000=100) from its revised March reading of 140.9. 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. April’s decline was due to a 12 percent drop for the institutional component of the momentum index, while the commercial component rose a meager 1 percent. Since early 2016, the momentum index has gained substantial ground, albeit in a saw-tooth pattern, increasing by … Read more

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