ABC, AIA and NAHB Economists Predict Industry Growth Through 2017

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WASHINGTON, D.C. – Associated Builders and Contractors’ Chief Economist Anirban Basu, American Institute of Architects’ Chief Economist Kermit Baker and National Association of Home Builders’ Chief Economist Robert Dietz predicted continued growth for the construction industry in 2017 during a recent joint economic forecast. “Nonresidential construction spending growth will continue into the next year with an estimated increase in the range of 3 to 4 percent,” said Basu. “Growth will continue to be led by privately financed projects, with commercial construction continuing to lead the way. Energy-related construction will become less of a drag in 2017, while public spending will … Read more

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Nonresidential Construction Growth on Pace with Strong July Jobs Report

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WASHINGTON, D.C. – The U.S. construction industry has rebounded strongly, adding 14,000 net new jobs in July according to an analysis of Bureau of Labor Statistics data recently released by Associated Builders and Contractors. This gain comes after the construction sector lost a combined 27,000 jobs from April to June. The construction industry’s unemployment rate inched lower in July, shedding a tenth of a percentage point to reach 4.5 percent, the industry’s lowest unemployment rate since October 2006. The nonresidential sector accounted for a majority of July’s gains, adding 11,500 net new jobs. The residential sector remained stagnant for the … Read more

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Construction Employment is Up 3.3 Percent for the Year

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Construction firms added 14,000 workers in July and construction industry pay rose at the fastest rate in seven years as contractors bid to attract workers, according to an analysis of new government data by the Associated General Contractors of America. Association officials added that tight labor market conditions have driven the construction sector’s wages up to 10 percent higher than the all-private sector average. “Several indicators show that there is still plenty of construction work available, but the shortage of experienced workers is growing ever more acute,” said Ken Simonson, the association’s chief economist. “With the number of unemployment workers … Read more

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June Construction Unemployment Rates Improve in 47 States from 2015

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WASHINGTON, D.C. – June not seasonally adjusted construction unemployment rates improved in 47 states and the nation on a year-over-year basis according to an analysis recently released by Associated Builders and Contractors. The national construction unemployment rate of 4.6 percent was 1.7 percent lower than a year ago according to data from the Bureau of Labor Statistics. Further, the industry boasted its lowest June rate since 2000 when it matched this June’s 4.6 percent rate. BLS data also showed that the industry employed 229,000 more people than in June 2015. Four states—Connecticut, Hawaii, Mississippi and Wyoming—posted an increase in their … Read more

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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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