Construction Unemployment Rates Improve in 33 States Year-Over-Year, ABC Says

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Construction Unemployment Rates Improve in 33 States Year-Over-Year, ABC Says WASHINGTON, D.C. – October not seasonally adjusted construction unemployment rates were down in 33 states and the nation on a year-over-year basis, according to a recent release by Associated Builders and Contractors. The national NSA construction unemployment rate of 5.7 percent was down 0.5 percent from a year ago, according to data from the Bureau of Labor Statistics. This was the lowest national October construction unemployment rate since 2006, when it was 4.5 percent. BLS data also reported that the industry employed 175,000 more people than in October 2015. “October … Read more

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National Construction Spending Reaches Cyclical Highs in Q3 2016

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CHICAGO, Ill. – According to JLL’s latest report on United States construction activity, construction spending in 2016 has continued to hit cyclical highs, reaching $317 billion in the third quarter, a one percent growth increase year-over-year. While this may be the highest point this cycle, compared to past third quarter growth averages of 7-10 percent year-over-year, the small increase could indicate an impending slowdown. A robust construction pipeline combined with rising building and materials costs and a shrinking labor pool could explain the lackluster growth. Materials costs have reached a 2.2 percent growth rate year-over-year, a five-year high, largely due … Read more

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Dodge Momentum Index Inches Up in November

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NEW YORK, N.Y. – The Dodge Momentum Index moved 0.3 percent higher in November to 133.2 from its revised October reading of 132.7 (2000=100). The 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 overall index has now posted increases in 10 of the last 12 months, and stands 18 percent higher than its November 2015 reading. This suggests that construction activity should continue to strengthen in 2017. The uptick for the index in November was due to … Read more

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Only 23 States, D.C. Add Construction Jobs Between September and October

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Only 23 states and the District of Columbia added construction jobs between September and October while construction employment increased in 35 states between October 2015 and October 2016, according to analysis of Labor Department data released by the Associated General Contractors of America. Association officials said declining public-sector investments in infrastructure and other public projects were undermining construction employment growth in many parts of the country. “Firms that perform public-sector work are having a hard time finding enough work to keep their teams together,” said Ken Simonson, chief economist for the association, noting that public-sector spending on construction is down … Read more

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Architecture Billings Index Rebounds After Two Down Months

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WASHINGTON, D.C. – After seeing consecutive months of contracting demand for the first time in four years, the Architecture Billings Index saw a modest increase demand for design services. 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 October ABI score was 50.8, up from the mark of 48.4 in the previous month. This score reflects a slight increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 55.4, down sharply … Read more

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