Construction Employment Increases Between July 2013, July 2014

  • Posted on

Construction employment expanded in 223 metro areas, declined in 72 and was stagnant in 44 between July 2013 and July 2014, according to a new analysis of federal employment data released by the Associated General Contractors of America. As employment grows, 25 percent of firms report labor shortages are forcing them to turn down work according to a new survey conducted by SmartBrief, a curator of business news and custom content, in partnership with the association. “Many construction firms looking to expand their payrolls are finding a surprisingly tight labor market,” said Ken Simonson, the association’s chief economist. “These expanding … Read more

Filed under: Economic News, NewsTagged with:

Equipment Leasing and Finance Industry Confidence Eases from Previous Two Months

  • Posted on

WASHINGTON, D.C. — The Equipment Leasing & Finance Foundation recently released the August 2014 Monthly Confidence Index for the Equipment Finance Industry. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $827-billion equipment finance sector. Overall, confidence in the equipment finance market is 58.9, easing from the previous two months" indexes of 61.4.   When asked about the outlook for the future, MCI-EFI survey respondent Thomas Jaschik, president, BB&T Equipment Finance, said, “The next two months will be very interesting … Read more

Filed under: Economic News, News

Nonresidential Construction Index Dips in Q3

  • Posted on

NRCI = 62.5 RALEIGH, N.C. — FMI, a provider of management consulting and investment banking* to the engineering and construction industry, released the 2014 Third Quarter Nonresidential Construction Index report. The NRCI shows a decrease of 3.3 points from Q2, but is still above the same time period in 2013. The cost of materials and labor continues to climb weighing negatively on the index. Other factors keeping the NRCI from rising are government entities continuing to reduce spending and avoid making final decisions on the highway bills, as well as private investors taking a passive role waiting for others to … Read more

Filed under: Economic News, eNews

Architecture Billings Index Reaches Highest Mark Since 2007

  • Posted on

WASHINGTON, D.C. — The last three months have shown steadily increasing demand for design services and the Architecture Billings Index is now at its highest level since 2007. As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to 12-month lead time between architecture billings and construction spending. The American Institute of Architects reported the July ABI score was 55.8, up noticeably from a mark of 53.5 in June. This score reflects an increase in design activity (any score above 50 indicates an increase in billings). The new projects inquiry index was 66.0, following a very … Read more

Filed under: Economic News, News

July Construction Employment Increases, Worker Availability Decreases

  • Posted on

Construction firms added jobs in 39 states from July 2013 to July 2014 and in 34 states from June to July, according to an analysis of Labor Department data by the Associated General Contractors of America. Association officials said the employment gains are good news, but that the pipeline of skilled craft workers, supervisors and other employees appears to be emptying rapidly. “The overall trend in construction employment has been very consistent in 2014, with more than three-fourths of states adding jobs each month on a year-over-year basis,” said Ken Simonson, the association's chief economist. “However, growing numbers of contractors … Read more

Filed under: Economic News, NewsTagged with: