Construction Materials Prices, Nonresidential Buildings Rise in January

Prices for materials used in construction and for nonresidential building construction both increased more than overall prices for “final demand” in January, according to a new analysis of retooled federal data on producer prices released by the Associated General Contractors of America. As a result, margins remain very tight for most construction firms, even as private-sector demand for construction continues to grow. “Although contractors on average were able to raise bid prices in line with materials cost increases, the results varied widely by commodity, building type and specialty trade,” said Ken Simonson, the association's chief economist. “Several key construction materials, … Read more

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Nonresidential Construction Index Reaches Record High

NRCI = 64.9 RALEIGH, N.C. — FMI announced the release of the 2014 First Quarter Nonresidential Construction Index report. The NRCI shows a 7.5 point increase since the 2013 fourth quarter report, as well as a 6.8 point increase from Q1 2013. This is the highest NRCI score to date. The increase in score comes from an optimistic view of a rising economy, as nearly half of the participants expect construction to grow up to 5 percent in 2014. With the increase in growth, executives are eagerly searching for talented individuals to assist and manage industry projects. Panelists with a … Read more

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Nonresidential Construction Gains Jobs in January

The construction industry gained 48,000 jobs in January, according to the Feb. 7 employment report by the U.S. Department of Labor. Nonresidential construction gained 21,000 jobs, representing a significant rebound from the 14,100 jobs lost by the segment in December. Nonresidential construction accounted for 47.7 percent of January’s total construction industry job gain and 28.1 percent of the construction industry job gain in the past year. The national construction unemployment rate expanded to 12.3 percent on a non-seasonally adjusted basis in January, compared with 11.4 percent in December. This was due to a combination of seasonal factors and may be … Read more

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Despite Severe Weather Construction Industry Adds Jobs in January, Unemployment Rate Declines

Construction employment jumped by the largest monthly amount in nearly seven years in January, bringing industry employment to the highest level since July 2009, according to an analysis of new government data by the Associated General Contractors of America. Association officials noted that, at the current rate of growth, it would not take long before many firms begin having difficulty finding enough skilled workers to meet demand. “Despite a second month of unusually severe weather in much of the nation, contractors more than offset the job losses that occurred in December,” said Ken Simonson, the association’s chief economist. “All segments … Read more

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Construction Figures Rise in December, Overall for 2013

Total construction spending edged up 0.1 percent in December and rose by a modest 4.8 percent for all of 2013, as a robust market for apartments and single-family houses outweighed downturns in private nonresidential and public projects, according to an analysis of new Census Bureau data by the Associated General Contractors of America.   Association officials added that swift congressional action on vital highway and water infrastructure measures would give a needed boost to public-sector demand. “Residential construction ended on a strong note in 2013 and should remain positive for at least the next several months,” said Ken Simonson, the … Read more

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