Construction Employment at Highest Level Since 2009, Reports AGC

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Construction employers added 39,000 jobs in January and 308,000 over the past year, reaching the highest employment total since February 2009, as the sector’s unemployment rate fell to 9.8 percent, according to an analysis by the Associated General Contractors of America. Association officials said the job gains come as most construction firms report plans to expand headcount this year, but worry about growing shortages of qualified workers. “Contractors have stayed busy this winter and expect to keep hiring through 2015—if they can find the workers they need,” said Ken Simonson, the association’s chief economist. “The list of projects is growing … Read more

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Architecture Billings Index Softens in January

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WASHINGTON, D.C. — Following a nine-month stretch of positive billings, the Architecture Billings Index showed no increase in design activity in January. As a leading economic indicator of construction activity, the ABI reflects the approximate 9-12-month lead time between architecture billings and construction spending. The American Institute of Architects reported the January ABI score was 49.9, down from a mark of 52.7 in December. This score reflects a very modest decrease in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 58.7, down from the reading of 59.1 the previous month. “This … Read more

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Construction Employment Increases in 257 out of 339 Metro Areas December 2013, 2014

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Construction employment expanded in 257 metro areas, declined in 43 and was stagnant in 39 between December 2013 and December 2014, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said the construction industry should continue to expand in 2015, noting that 80 percent of contractors report plans to add new employees this year. “While weather patterns certainly had an impact on construction employment during the past year, there is little doubt that the construction sector is in recovery mode in most parts of the country,” said Ken Simonson, chief … Read more

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Construction Spending Ends 2014 at Highest Level Since 2008

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Construction spending rose in December to a six-year high of $982 billion as public construction for the year increased for the first time since 2009, according to an analysis by the Associated General Contractors of America. Association officials said President Obama’s budget proposal and his suggested infrastructure funding program should help construction spending continue to grow by accelerating debate about the best way to fund repairs to the nation’s aging roads, bridges, and other public infrastructure. “For the first time in nearly a decade there was growth in all three major construction segments—public, private nonresidential and residential,” said Ken Simonson, … Read more

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Recovery for Construction Industry Projected to Result in Solid Increases in Spending Levels in 2015, 2016

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WASHINGTON, D.C. — The nonresidential building market was hamstrung by weather-related delays during the first part of the 2014, but conditions improved dramatically throughout the rest of the year to finish with greater than anticipated spending levels. The commercial construction sector is now looking at double-digit increases in 2015, led by vigorous levels of demand for hotels and office buildings. The American Institute of Architects" semi-annual Consensus Construction Forecast, a survey of the nation's leading construction forecasters, is projecting that spending will see a 7.7 percent increase in 2015, with next year's projection nudging up to 8.2 percent. “This is … Read more

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