Almost Three-Fourths of Construction Firms Plan to Expand Headcount in 2017

  • Posted on

Seventy-three percent of construction firms plan to expand their payrolls in 2017 as contractors expect private and public sector demand to grow in all market segments, according to survey results recently released by the Associated General Contractors of America and Sage Construction and Real Estate. Despite the general optimism outlined in Expecting a Post-Election Bump: The 2017 Construction Industry Hiring and Business Outlook, many firms report they remain worried about the availability of qualified workers and rising health and regulatory costs. Contractors had a positive outlook, on net, for all 13 market segments included in the survey. Respondents are most … Read more

Filed under: Economic News, eNewsTagged with: , ,

ABC Predicts Modest Growth for 2017 Nonresidential Construction Sector

  • Posted on

WASHINGTON, D.C. – Associated Builders and Contractors forecasts a slowdown of growth in the U.S. commercial and industrial construction industries in 2017. While contractors are vulnerable to rising commodity prices and potential interest rate increases in 2017, the middling consumer-led recovery should still lead to modest growth in construction spending and employment. “The U.S. economy continues to expand amid a weak global economy and, despite risks to the construction industry, nonresidential spending should expand 3.5 percent in 2017,” said ABC Chief Economist Anirban Basu. “For more than two years, the Federal Reserve has been able to focus heavily on stimulating … Read more

Filed under: Economic News, eNewsTagged with: , , , ,

Turner’s Fourth Quarter Building Cost Index Reflects Strong Market Conditions

  • Posted on

NEW YORK, N.Y. – Turner Construction Company’s Fourth Quarter 2016 Turner Building Cost Index—which measures costs in the non-residential building construction market in the United States—has increased to a value of 1006. This represents a 1.11 percent quarterly increase from the Third Quarter 2016 and a 4.90 percent yearly increase from the Fourth Quarter 2015. The United States construction market continues to experience broad growth, with the West and Southeast regions seeing more significant gains, and the Northeast and Central regions seeing more moderate gains. Additionally, while raw material prices have remained flat, they have experienced an overall gain this … Read more

Filed under: Economic NewsTagged with: ,

Construction Unemployment Rates Improve in 38 States Year-Over-Year, ABC Says

  • Posted on

WASHINGTON, D.C. — November not seasonally adjusted construction unemployment rates were down in 38 states and the nation on a year-over-year basis, according to an analysis recently released by Associated Builders and Contractors. The rates for two states, Kansas and Texas, were unchanged from November 2015. The national NSA construction unemployment rate of 5.7 percent was down 0.5 percent from a year ago and unchanged from October, according to data from the Bureau of Labor Statistics. This was the lowest national NSA November construction unemployment rate on record, matching the 5.7 percent rate in November 2005 and November 2000. Meanwhile, … Read more

Filed under: Economic NewsTagged with: , ,

Over 30 States Add Construction Jobs Year Over Year November 2015, 2016

  • Posted on

Thirty-four states added construction jobs between November 2015 and November 2016 while construction employment increased in 29 states and the District of Columbia during the past month, according to an analysis of Labor Department data recently released by the Associated General Contractors of America. Association officials said even as firms in many starts are adding jobs amid growing residential and public sector construction investments, the number of states adding construction jobs for the year has declined compared to a year ago. “Most of the construction employment gains are coming as firms in many states work to keep pace with growing … Read more

Filed under: Economic NewsTagged with: ,