Construction Spending Edges Higher, Public Outlays Drop

Total construction spending remained in a holding pattern in March as strong gains in apartment construction and modest growth in homebuilding and private nonresidential activity offset falling public outlays, according to an analysis of new Census Bureau data by the Associated General Contractors of America. Association officials noted that the construction spending figures may get dramatically worse unless public officials act urgently to maintain federal highway funding. “Overall construction spending has increased from a year ago but has stayed in a narrow range since December,” said Ken Simonson, the association’s chief economist. “It is encouraging that spending remained level despite … Read more

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AGC Reports on March Year-Over-Year Construction Employment

Construction employment expanded in 197 metro areas, declined in 87 and was stagnant in 55 between March 2013 and March 2014, according to a new analysis of federal employment data released today by the Associated General Contractors of America. Association officials noted, however, that construction employment stands to suffer if Congress allows federal highway funding to stop this summer. “Much of the country experienced relatively robust growth in construction employment during the past year,” said Ken Simonson, the association’s chief economist. “But the fact construction employment remains below prior peak levels in most areas shows just how hard hit the … Read more

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AIA Unveils New Leading Indicator in Construction Research White Paper

WASHINGTON, D.C. — By measuring the movement of design contracts in the monthly Architecture Billings Index, the American Institute of Architects is now able to trace the path of resources into the design and construction industry from the earliest conceptualization until it results in finished projects. This new indicator is being spotlighted in an AIA economic research white paper, Designing the Construction Future. “We have been tracking new project inquiries — bids, general solicitations, interview invitations — which tend to be rather subjective, so we began looking for a more precise way of estimating future levels of billings activity at … Read more

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Construction Jobless Rate Declines, Reports AGC

Construction employers added 19,000 workers to payrolls in March, bringing industry employment to the highest level since June 2009, while the industry's unemployment rate dropped to the lowest March level in seven years, according to an analysis of new government data by the Associated General Contractors of America. Association officials warned that the pool of available workers is declining rapidly, raising the prospects for significant labor shortages if demand continues to expand. “The rate of construction hiring continues to outrun job growth in the overall economy for the past year,” said Ken Simonson, the association’s chief economist. “Furthermore, the pickup … Read more

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AGC Reports on February Construction Employment Increase, Topping Out

Construction employment expanded in 175 metro areas, declined in 106 and was stagnant in 58 between February 2013 and February 2014, according to a new analysis of federal employment data released today by the Associated General Contractors of America. Association officials noted, however, that despite the gains construction employment remained below peak levels in all but 19 metro areas. “It is encouraging that contractors added workers in so many locations despite severe weather that delayed some project starts,” said Ken Simonson, the association’s chief economist. “At the same time, it's clear that the upturn in construction is far from universal. … Read more

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