Nonresidential Spending Slips in August

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WASHINGTON, D.C. — Nonresidential construction spending fell for a second consecutive month in August, according to a recent analysis of U.S. Census Bureau released by Associated Builders and Contractors. Nonresidential spending totaled $686.6 billion on a seasonally adjusted, annualized basis for the month, 1.1 percent lower than July’s total of $694.1 billion (revised down from $701 billion) and 1.3 percent below August 2015’s figure. Private nonresidential construction spending fell just 0.4 percent for the month, while its public sector counterpart shrank 2 percent. Four of the five largest nonresidential subsectors—power, highway and street, commercial and manufacturing—combined to fall 2.2 percent […]

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Construction Employment Increases in 3/5 of Nation’s Metro Areas Between August 2015 & 2016

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Construction employment increased in three-fifths of metro areas between August 2015 and August 2016—the smallest share in nearly three and a half years—as contractors in many areas report difficulty in finding qualified workers, according to a new analysis of federal employment data recently released by the Associated General Contractors of America. Association officials said the new data underscores the need to make it easier for school officials to set up programs that teach skills like construction. “While the number of metro areas with employment increases has been slipping, the number with decreases—76 in August—has held roughly steady,” said Ken Simonson, […]

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Construction Unemployment Rates Improve in 48 States in August

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WASHINGTON, D.C. — August not seasonally adjusted construction unemployment rates improved in 48 states and the nation on a year-over-year basis, according to a recent analysis released by Associated Builders and Contractors. The national NSA construction unemployment rate of 5.1 percent was 1 percent lower than a year ago, according to data from the Bureau of Labor Statistics, producing the lowest August construction unemployment rate on record. BLS data also showed that the industry employed 183,000 more people than in August 2015. “August 2016 continues the unbroken monthly streak of year-over-year rate declines in the construction unemployment rate that began […]

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Backlog Skyrockets for Largest Firms in Q2, Falls to 8.5 Months Overall

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WASHINGTON, D.C. – Construction backlog for large contractors reached a new peak of 14.06 months during the second quarter of 2016 according to the Associated Builders and Contractors Construction Backlog Indicator recently released. The new high for companies with annual revenue above $100 million shattered the previous high of 12.25 months for any revenue segment, which was recorded in the first quarter of 2016 and second quarter of 2013. Nationally, average backlog fell to 8.5 months during the second quarter, down 1.6 percent from the prior quarter. CBI remained virtually unchanged on a year-over-year basis, signaling that growth in the […]

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August Construction Starts Jump 21 Percent

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NEW YORK, N.Y. – New construction starts in August soared 21 percent to a seasonally adjusted annual rate of $711.2 billion, according to Dodge Data & Analytics, following lackluster activity in July. The August rise for total construction starts featured an especially elevated amount for nonresidential building, which was helped by the start of a $3-billion petrochemical plant in Louisiana, the $1.7-billion Wynn Casino in the Boston, Massachusetts area and a $508-million terminal upgrade at Seattle-Tacoma International Airport. The non-building construction sector also experienced strong growth, with its public works segment lifted by the start of a $3-billion natural gas […]

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