Construction Employment Conditions Vary Widely Between September 2015, 2016

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Construction employment conditions varied widely by metro area between September 2015 and September 2016 as contractors in many areas struggled to find qualified workers while others contending with shrinking public budgets for infrastructure, according to a new analysis of federal employment data recently released by the Associated General Contractors of America. Association officials said the new data shows the need to enact career and technical education reforms along with infrastructure funding. “Overall, the employment picture for construction workers is positive—the number of metro areas adding construction jobs in the past year was more than triple the number that lost jobs,” […]

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Rider Levett Bucknall Releases Q3 USA Construction Report

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PHOENIX, Ariz. – In its latest quarterly survey of U.S. construction costs, international property and construction cost-consultant firm Rider Levett Bucknall reports that construction spending in the United States is on track to increase approximately 6 percent in 2016. Overall, the national average increase in construction costs for the quarter was approximately 1.5 percent. While spending is falling short of the robust 20 percent growth seen by select segments of the industry in 2015, the outlook for the construction field is reasonably favorable, notes the report. Continued low interest rates, rising consumer confidence and healthy job growth also contribute to […]

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Nonresidential Fixed Investment Expands Again During Solid Third Quarter, ABC Reports

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WASHINGTON, D.C. – Real gross domestic product expanded 2.9 percent on a seasonally adjusted annualized rate during the third quarter of 2016, according to an analysis of Bureau of Economic Analysis data recently released by Associated Builders and Contractors. This follows a 1.4 percent increase during the second quarter and represents the tenth consecutive quarter of economic expansion. Nonresidential fixed investment, a category closely aligned with construction and other forms of business investment, expanded at a 1.2 percent annualized rate during the third quarter after growing 1 percent during the second. Investment in structures led the way, increasing by 5.4 […]

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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 […]

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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 […]

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