Construction Employment Increases by 6,000 Jobs in March

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Construction employment increased by 6,000 jobs in March as a February hiring surge prompted by mild winter weather in much of the country prompted firms to hire fewer people last month, according to an analysis of new government data by the Associated General Contractors of America. Association officials said declining public-sector investments in construction and infrastructure could impact future construction hiring unless the administration and Congress enact a new funding measure. “Construction firms continued to add jobs over the past year at a higher rate than the overall economy,” said Ken Simonson, the association’s chief economist. “The small job gain … Read more

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Construction Unemployment Rates Improve in 25 States, ABC Says

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WASHINGTON, D.C. — Construction unemployment rates were down in 25 states and unchanged in four in February on a year-over-year basis, according to analysis released by Associated Builders and Contractors. The national not seasonally adjusted construction unemployment rate of 8.8 percent was up 0.1 percent from February 2016, according to data from the U.S. Bureau of Labor Statistics. Since these industry-specific rates are not seasonally adjusted, the best approach is to evaluate the national and state-level unemployment rates on a year-over-year basis. “Despite the slight downturn in the year-over-year NSA national construction unemployment rate, half the states had a reduction … Read more

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Dodge Momentum Index Springs Forward in March

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NEW YORK, N.Y. – The Dodge Momentum Index increased by 0.9 percent in March to 144.4 (2000=100) from its revised February reading of 143.2. 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. The momentum index has now risen for six consecutive months, with much of the gain being driven by institutional projects entering planning while commercial projects so far in 2017 have receded slightly. The institutional portion of the momentum index rose 3.7 percent … Read more

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Nonresidential Construction a Bright Spot in Disappointing Jobs Report, BLS Reveals

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WASHINGTON, D.C. — National construction employment remained largely unchanged in March, adding 6,000 net new jobs on a seasonally adjusted basis, according to analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. The nonresidential construction sector added 13,300 net new jobs for the month, while the residential sector lost 7,600 net jobs. “While today’s jobs report will be viewed primarily as a disappointment, nonresidential construction remains a bright spot, adding 13,000 jobs,” said ABC Chief Economist Anirban Basu. “Nonresidential construction’s growth is impressive given March’s colder weather, but it represents a slowing from the first … Read more

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Construction Material Costs in March Outpace Contractor Pricing

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Double-digit price increases for key construction materials pushed up construction costs in March, while the prices charged by contractors remained moderate, according to a new analysis of federal producer price data released by Associated General Contractors of America. Association officials urged policymakers to avoid adopting restrictions on international trade that would add to materials costs and potentially drive up the price of infrastructure, buildings and new homes and apartments. “Prices have jumped in recent months for diesel fuel, steel, copper, wallboard and lumber—materials essential for houses, nonresidential buildings and infrastructure projects,” said Ken Simonson, the association’s chief economist. “Contractors generally … Read more

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