Construction Employment Rises Year-Over-Year, Qualified Workers Grow Scarce

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Construction employment increased in 39 states between June 2015 and June 2016, although half the states shed construction jobs between May and June, according to analysis of Labor Department data recently released by the Associated General Contractors of America. Association officials said the flattening of monthly employment gains and losses indicates the urgency of beefing up programs to attract, train and retain construction workers. “Construction demand is still growing strongly in all regions and among many types of owners,” said Ken Simonson, chief economist for the association. “But contractors appear to be struggling to fill jobs in the short run.” … Read more

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New Construction Starts in June Drop 7 Percent

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NEW YORK, N.Y. – New construction starts in June decreased 7 percent from the previous month to a seasonally adjusted annual rate of $595.1 billion, according to Dodge Data & Analytics. The non-building construction sector (public works and electric utilities) fell sharply after being lifted in May by the start of a $3.8 billion oil pipeline in the upper Midwest and seven large power plant projects totaling $4.3 billion. Residential building in June edged down with reduced activity reported for both single family and multifamily housing. At the same time, nonresidential building registered moderate growth in June after sliding back … Read more

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Construction Employment Stalls in June

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Construction employment was unchanged from May to June, but an increase in hourly pay and longer workweeks, along with shrinking numbers of unemployed construction workers, suggest contractors would hire more workers if they were available, according to recent analysis by the Associated General Contractors of America. Association officials said the lack of available qualified workers for firms to hire appears to be holding back employment growth and urged Congress to pass legislation to reform and increase funding for career and technical education. “Construction employment stalled in June after declining in April and May, but unemployment among construction workers is at … Read more

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Dodge Momentum Index Jumps in June

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NEW YORK, N.Y. – The Dodge Momentum Index rose a sharp 11.2 percent in June to 134.4, from its revised May reading of 120.8 (2000=100). The Dodge Momentum 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 index rose in June as the result of a 14.6 percent increase in the institutional component and a 7.7 percent increase in the commercial component. The gain in commercial planning reports is a positive development since that component of … Read more

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Construction Input Prices Continue Ascent, Could Pressure Margins

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WASHINGTON, D.C. — Construction input prices expanded in June, rising 1.1 percent on a monthly basis according to a recent analysis of the Bureau of Labor Statistics Producer Price Index released by Associated Builders and Contractors. This report marks the fourth consecutive month that input prices have expanded following eight straight months of decline. “Commodity prices stabilized in March and in many cases, including natural gas and oil, have been edging higher,” said ABC Chief Economist Anirban Basu. “Accordingly, construction materials prices are now on the rise, which all things being equal translate into smaller profit margins. Alternatively, rising costs … Read more

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