Construction Industry Faces Highest Tax Burden, According to U.S. Treasury

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WASHINGTON, D.C. – Construction shoulders a bigger tax burden than any other industry in the United States with an effective rate over 30 percent, according to a new report from the U.S. Department of the Treasury. Associated Builders and Contractors responded to the report by urging lawmakers to pass tax reform that would encourage economic growth by lowering rates for both corporate and pass-through businesses. “Tax Day is a painful reminder to construction companies that they carry a larger tax burden than any other industry,” said 2016 ABC National Chair David Chapin, president of Willmar Electric Service, Lincoln, Nebraska. “While … Read more

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Construction Firms Add 37,000 Jobs in March, 300,000+ in Past Year

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Construction employment rose sharply in March by 37,000 for the month and 301,000 for the year, while construction spending in February logged a solid year-over-year increase despite a dip compared with January, according to an analysis by the Associated General Contractors of America. Association officials said the new jobs and spending indicate that the industry is steadily expanding to meet growing demand. “These two reports confirm that demand for construction is robust and well-balanced among residential, private nonresidential and public segments,” said Ken Simonson, the association’s chief economist. “Compared with the same month a year ago, the industry is adding … Read more

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Dodge Momentum Index Falls in March

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NEW YORK, N.Y. –The Dodge Momentum Index fell 7 percent in March to 117.4 from its revised February reading of 126.4 (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 March is the first setback for the index following three months of gains. Over the last 12 months the index has been particularly volatile, increasing in seven months and dropping in five, mirroring the saw tooth pattern of growth in the overall … Read more

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Construction Employment Rises in 44 States, D.C. Over Last Year

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Forty-four states and the District of Columbia added construction jobs between March 2015 and March 2016 while construction employment increased in 28 states between February and March, according to analysis of Labor Department data released by the Associated General Contractors of America. Association officials noted that the five states experiencing year-over-year construction employment declines are all energy producing states where construction demand has likely suffered from declining prices for coal, oil and other fuels. “Construction employment growth occurred all regions in the latest 12 months,” said Ken Simonson, chief economist for the association. “The only soft spots in construction demand … Read more

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AGC Releases Recent Construction Employment Data February 2015, 2016

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Forty-three states and the District of Columbia added construction jobs between February 2015 and February 2016 while construction employment increased in 27 states between January and February, according to analysis of Labor Department data recently released by the Associated General Contractors of America. Association officials said the pullback in energy prices and farm income appeared to be dampening demand for construction in some states while firms in other states continue to expand. “In most of the country, construction continues to outpace other industries in adding jobs,” said Ken Simonson, chief economist for the association. “Contractors remain upbeat about demand for … Read more

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