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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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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