Construction Employment Rises September 2015 Year-Over-Year

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Construction employment expanded in 35 states and the District of Columbia between September 2014 and September 2015, yet only 23 states added jobs between August and September, according to an analysis of Labor Department data recently released by the Associated General Contractors of America. Association officials said the fact as many states lost construction jobs as added them last month was likely due to a combination of labor shortages and uncertainty about a host of federal investment programs. “Depending on the kind of work they perform, many contractors either can’t find enough workers, or they can’t find enough work,” said … Read more

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Turner Releases Third Quarter Building Cost Index

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Turner Construction Company has released its Third Quarter 2015 Turner Building Cost Index — which measures costs in the non-residential building construction market in the United States. The value has increased to 949, which reflects a 1.17 percent increase from second quarter 2015 and a 4.52 percent yearly increase from third quarter 2014. Reduced cost of fuel and manufactured components was offset by a continued increase in construction activity which drove an overall increase of costs in the third quarter. While the South and Northeast have seen steady growth in activity similar to that of the first two quarters of … Read more

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Construction Unemployment Falls to Lowest September Mark in 15 Years

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The number of unemployed workers with construction experience dropped to the lowest total for September since 2000, as hiring continued to slow despite robust demand for construction, according to a recent analysis by the Associated General Contractors of America. Association officials cautioned that the hiring slowdown most likely reflects a lack of available workers that could lead to project delays unless more students and workers join the construction sector. “Growth in the construction workforce has been slowing throughout 2015, just at the time that construction spending has accelerated to a multi-year high,” said Ken Simonson, the association’s chief economist. “Contractors … Read more

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U.S. Construction Industry Jump Starts with Third Consecutive Month of Growth

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PHOENIX, Ariz. — According to Rider Levett Bucknall, findings in its newly released Third Quarter 2015 USA Construction Cost Report, the U.S. construction industry continued to experience an upward trend last quarter, with three consecutive months of growth. The report also states cost escalation in Honolulu, Hawaii in the second quarter hit 2.76 percent (11 percent annualized) leading its construction costs to eclipse those of New York City and making it the most expensive city to build in the USA. Rider Levett Bucknall’s research indicates that national activity for construction put-in-place jumped by nearly 12 percent between the third quarter … Read more

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Dodge Momentum Index Jumps in September

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NEW YORK, N.Y. — The Dodge Momentum Index moved 5.8 percent higher in September to 133.5 (2000=100) from its August reading of 126.2. 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 impetus behind September's gain was a 12 percent increase from the previous month in institutional building planning. State and local budgets, which finance many projects in the institutional category, continue to recover from their recessionary weakness. With this support, planning for new institutional … Read more

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