Construction Backlog Rebounds in Third Quarter, ABC Says

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WASHINGTON, D.C.–  Construction backlog expanded during the third quarter, led by strong growth in the commercial/industrial sector, according to Associated Builders and Contractors’ recently released Construction Backlog Indicator. The increase during the third quarter follows two quarters of decline in backlog—the amount of work under contract but yet to be performed—that led to speculation that growth in the country’s nonresidential construction industry was slowing. Overall backlog expanded to 8.7 months, up 2 percent from the second quarter and 2.2 percent (0.2 months) on a year-over-year basis. “Despite growing concern that certain commercial segments in a handful of major U.S. cities … Read more

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Construction Input Prices Plummet in November

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WASHINGTON, D.C.  – Construction input prices experienced their most rapid monthly decline since February 2016 in November, falling 0.5 percent according to the U.S. Bureau of Labor Statistics. Despite the month-over-month fall, input prices are up by 0.5 percent on a yearly basis for the second consecutive month. Nonresidential input prices fell 0.7 percent for the month but are up 0.4 percent on the year. Crude petroleum, natural gas and unprocessed energy materials prices have all risen significantly since November 2015. Only three key inputs prices—plumbing fixtures and fittings; nonferrous wire and cable and prepared asphalt, tar roofing and siding … Read more

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New National, State Construction Hiring and Business Forecasts to be Released During Media Call

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At 1 p.m. EST on Wednesday, Dec. 21, the Associated General Contractors of America and Sage will release their national and state* construction hiring and business forecasts for 2017 during a media conference call at 800-874-4559 (Canadian: 800-696-0876) (verbal pass code TURM25524). The forecasts, which are based on a comprehensive survey of construction firms nationwide, will include predictions of the scope of construction hiring, layoffs and labor market conditions. During the call, the association’s CEO Stephen Sandherr and Chief Economist Kenneth Simonson will release the forecasts and explain their significance for broader economic and employment growth for this year. Sage … Read more

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A Closer Look at the Skilled Labor Shortage

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The whys, tactics and what comes next By Bud LaRosa The construction industry is enjoying an enormous economic recovery. Many urban centers are dotted with cranes. There are several private and public projects on the drawing board and, last year, Congress passed a $1.1-trillion budget with $1.6 billion going toward the General Services Administration’s construction account. This 300 percent increase includes a doubling of the Department of Veterans Affairs construction budget to $1.2 billion. With projections for growth in 2017 forecasting the recovery to continue, one of the greatest threats that could derail the recovery is the lack of skilled … Read more

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Construction Firms Add 19,000 Jobs in November, Drop in Infrastructure Spending Slows Growth

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Construction employers added 19,000 jobs in November, reaching the highest employment level since November 2008, but a drop in public sector investments in construction projects held down employment among heavy and civil engineering firms, according to an analysis by the Associated General Contractors of America. Association officials noted that recent construction spending numbers show a decline in most categories of infrastructure investment. “This report shows the construction industry has the capacity to handle additional infrastructure work even as private nonresidential projects, apartments and homebuilding continue to go up,” said Ken Simonson, the association’s chief economist. “The industry would be adding … Read more

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