Construction Employment Declines by 1,000 Jobs in March, Unemployment Rate Hits 9.5%

  • Posted on

Construction declined by 1,000 in March but is still up by 282,000 compared to the prior year, as the sector’s unemployment rate fell to 9.5 percent, according to a recent analysis by the Associated General Contractors of America. Association officials noted that declining demand for residential and public sector projects offset gains in other areas to contribute to the overall month job losses. “After 14 months of steady job gains, construction employment suffered in March,” said Ken Simonson, the association’s chief economist. “Except for multifamily construction, home building remains weak and government officials just can’t seem to find a way … Read more

Filed under: Economic News, eNewsTagged with:

Construction Starts Rise by 32.4% or Nearly One-Third

  • Posted on

CMD announced that March’s $25 billion of construction starts, excluding residential work, soared higher by 32.4 percent (or nearly one-third) versus February. It was a much greater increase than would have been expected based solely on seasonality. The long-term average February-to-March increase in CMD’s nonresidential building starts has been 6 percent. While the large month-to-month gain this year warrants cheers, it should be noted that February-to-March’s rise last year was also outsized. In fact, it was even bigger, at +40.3 percent. Furthermore, compared with the same standalone month of 2014, March of 2015 was -5.1 percent. Year-to-date starts in 2015 … Read more

Filed under: Economic News, eNewsTagged with:

Dodge Momentum Index Dips in March

  • Posted on

NEW YORK, N.Y. — The Dodge Momentum Index dipped slightly in March, falling 2.1 percent to 122.3 (2000=100) from February’s 124.9, according to Dodge Data & Analytics. 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. Despite the March decline, the Momentum Index has trended higher over the last 12 months. For the first three months of this year, it has averaged 122.5, a 12 percent gain over the first three months of 2014. This rising … Read more

Filed under: Economic News, eNews

Construction Employment Increases Year-Over-Year, Private Sector Demand Offsets Challenges

  • Posted on

Construction employment expanded in 278 metro areas, declined in 36 and was stagnant in 44 between February 2014 and February 2015, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said the job gains come as private sector demand, particularly for multifamily housing, offset declining public sector investments, labor shortages and the challenges of a slowing global economy and declining oil prices. “Construction firms continue to add new jobs at a pretty steady clip in most parts of the country,” said Ken Simonson, the association’s chief economist, noting that the … Read more

Filed under: Economic News, NewsTagged with:

Construction Spending Inches Down, Multifamily and Manufacturing Lead Sector

  • Posted on

Construction spending inched down in February from January levels but increased from a year earlier, according to an analysis by the Associated General Contractors of America. Association officials noted the latest construction figures were held back by declining demand for single-family homes and declining public sector investment levels. “Private multifamily and nonresidential construction increased on both a monthly and year-over-year basis, while single-family and public construction spending retreated last month but still advanced from year-ago levels,” said Ken Simonson, the association’s chief economist. “Similarly mixed results are likely to recur throughout 2015 as the economy continues to grow but potential … Read more

Filed under: Economic News, News