Construction Employment Increases in 43 States in Last 12 Months

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Forty-three states added construction jobs between February 2016 and February 2017 while 39 states added construction jobs between January and February, according to an analysis by the Associated General Contractors of America of Labor Department data recently released. Association officials noted that the despite the relatively widespread increase in construction employment, most states are still significantly below peak construction employment levels. “A combination of solid demand and unseasonably mild weather added to construction employment in more states than usual in February,” said Ken Simonson, chief economist for the association. “But conditions vary widely. Five states set new records for construction … Read more

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Construction Employment Shows Mixed Geographic Pattern, Reports AGC

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Construction employment showed a mixed pattern geographically in the latest 12 months, increasing in 219 out of 358 metro areas between January 2016 and January 2017, declining in 104 and stagnating in 35, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials noted that firms in many parts of the country are either benefitting from growing demand for construction or having a hard time finding enough qualified workers to keep up with demand, while firms in other parts suffer from declining demand “While construction employment is growing at a healthy … Read more

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Construction Employment Jumps in February

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Construction employment increased by 58,000 jobs in February to the highest level since November 2008 with gains in both residential and nonresidential segments, according to an analysis of new government data by the Associated General Contractors of America. The association urged public officials to strengthen training and education programs to help students and current workers better prepare for careers in the high-paying construction field. “These numbers match what many contractors have been telling the association—that demand remains strong for a variety of construction projects and that firms are still hiring, when they can find qualified workers,” said Ken Simonson, the … Read more

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Construction Input Prices Expand for Third Straight Month, Petroleum Prices Soar

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WASHINGTON, D.C. – Construction input prices expanded 0.3 percent on a monthly basis and 4.8 percent on a year-over-year basis in February, according to a recent analysis of U.S. Bureau of Labor Statistics data and released by ABC. This represents the most rapid yearly growth in construction input prices in more than five years. Only four key inputs tracked by BLS experienced monthly price declines, principally natural gas. Natural gas prices declined 18 percent in February, but are still up by more than 66 percent over the past year. Crude petroleum prices are up 107 percent over the past year. … Read more

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Nonresidential Construction Spending Slips

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WASHINGTON, D.C. — Nonresidential construction spending contracted during January, according to analysis of U.S. Census Bureau released by Associated Builders and Contractors. Nonresidential spending fell 1.9 percent from December to $698.4 billion on a seasonally adjusted, annualized basis. This represents the first month total nonresidential construction spending dipped below $700 billion since July 2016. Despite the monthly setback, year-over-year progress remains intact, with nonresidential spending increasing 1.5 percent since January 2016. However, in real terms, that represents virtually nonexistent growth. Private nonresidential spending remained unchanged for the month, while public sector spending plunged 4.7 percent. The greatest loss in spending … Read more

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