Nonresidential Construction Index Slowly Rises

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RALEIGH, N.C. — FMI announced the release of the 2014 Fourth Quarter Nonresidential Construction Index report. The NRCI shows a slight increase from 62.5 in the third quarter to 62.8 in the fourth quarter of 2014. This is nearly 5.5 points ahead of fourth quarter 2013. An NRCI greater than 50 indicates improvement or expansion. There are many good reasons for optimism by NRCI survey respondents this quarter. The top-three are: businesses are starting to build again, backlogs are expanding and future business looks good with low inflation. A close fourth is a sense of financial security with improved balance … Read more

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Unionized Sheet Metal Industry Targets Veterans, Provides Direct Entry into Apprenticeship Program

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By Melissa Biernacinski During their time in the armed forces, vets spend their careers perfecting and upholding the highest standards of conduct — discipline, dedication, respect. Skills any employer would be thrilled to have in an employee. Yet, upon honorable discharge, many vets find themselves unemployed and, in some cases, not entirely sure how to transfer skills to the civilian workforce. According to the Bureau of Labor Statistics, the unemployment rate among Gulf War-era II (since Sept. 11, 2001) vets is 8.3 percent for males ages 18 to 44 and, for women ages 25 to 44 (18 to 24 numbers … Read more

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Nonresidential Construction Spending Slips for Second Consecutive Month

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Nonresidential construction spending slipped 1 percent in September but has still managed to expand 4.2 percent on a year-over-year basis, according to the Nov. 1 release from the U.S. Census Bureau. Spending for the month totaled $596.1 billion on a seasonally adjusted, annualized basis while the government slightly revised the August spending figure from $603.7 billion to $601.9 billion. “September’s drop in nonresidential construction spending is disappointing given the growing momentum in the broader economy and the generally positive signals being sent by industry-specific leading economic indicators,” said Associated Builders and Contractor Chief Economist Anirban Basu. “Based on a combination … Read more

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Employers Add Thousands of Jobs in October; Unemployment at 8-Year Low

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Construction employers added 12,000 jobs in October and the sector’s unemployment rate fell to 6.4 percent, the lowest rate for October since 2006, according to an analysis released by the Associated General Contractors of America. Association officials said the construction employment gains, along with rising wages and weekly hours, are consistent with survey results showing more firms are having a hard time finding enough qualified workers to fill available positions. Construction employment totaled 6.95 million in October, the highest total since May 2009, with a 12-month gain of 231,000 jobs or 3.9 percent, Ken Simonson, the association’s chief economist, noted. … Read more

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Construction Spending in September Slips

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Construction spending decreased for the second consecutive month in September as declines in public and private nonresidential construction, as well as multifamily projects, offset growth in single-family homebuilding, according to an analysis by the Associated General Contractors of America. Association officials said the new spending figures underscore how challenges current market conditions are for many firms. “These data show that construction gains remain fragmentary and volatile, even though industry employment has been picking up in more states,” said Ken Simonson, the association’s chief economist. “Many categories of spending rose sharply over the past year but month-to-month changes have been mixed.” … Read more

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