AGC Reports on Construction Hiring Despite Drop in Public Spending

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Construction employers added 11,000 jobs in October as employment in the sector is at the highest level since December 2008 despite declines in public sector investments in construction projects, according to an analysis by the Associated General Contractors of America. Association officials noted that average hourly earnings for construction workers increased by 3.2 percent compared to 12 months ago as firms continue to expand amid shortages of available qualified workers. “There is a two-part story in construction right now as private-sector demand continues to boost employment while declining public-sector demand is contributing to year-over-year declines in heavy and civil engineering … Read more

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Dodge Momentum Index Stumbles in September

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NEW YORK, N.Y. – The Dodge Momentum Index fell 4.3 percent in September to 129.0 from its revised August reading of 134.8 (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 decline in September was the result of a 5.3 percent drop in institutional planning and a 3.6 percent decrease in commercial planning, retreating from the strong performance in August which benefited from an influx of large projects ($100 million+) into planning. September’s decline … Read more

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Contractor Confidence Dips in First Half of 2016

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WASHINGTON, D.C.  – The average contractor is less confident regarding business prospects for the next six months, but the nonresidential construction recovery is anticipated to remain in place, according to the Associated Builders and Contractors Construction Confidence Index released recently. The diffusion index measures forward-looking construction industry expectations in sales, profit margins and staffing levels, with readings above 50 indicating growth. According to the most recent survey, during the first half of 2016: Sales expectations fell from 67.0 to 64.1 Profit margin expectations fell from 62.8 to 61.1 Staffing level intentions rose from 63.9 to 64.9 Although two indices fell, … Read more

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Construction Input Prices Begin to Trend Higher, ABC Reports

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WASHINGTON, D.C. – Both nonresidential and overall construction input prices increased in September, with natural gas and crude petroleum prices bouncing back, according to analysis of the U.S. Bureau of Labor Statistics Producer Price Index released by Associated Builders and Contractors. The BLS data show that nonresidential input prices expanded 0.3 percent on a monthly basis in September, and overall construction prices also rose 0.3 percent on a monthly basis after declining 0.2 percent in August. It is important to note that nonresidential input construction prices are now higher on a year-over-year basis for the first time since November 2014. … Read more

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September Year-Over-Year Construction Employment Rises

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Thirty-five states added construction jobs between September 2015 and September 2016 while construction employment increased in only 21 states and the District of Columbia between August and September, according to a recent analysis of Labor Department data released by the Associated General Contractors of America. Association officials said contractors still report difficulty filling construction jobs, and they urged Congress to complete action on a bill that would help more students gain the skills to qualify for good-paying careers in construction. “The list of states that are adding construction jobs has been shrinking, yet contractors generally report they are busy now … Read more

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