AGC Reports on Construction Employment Year-Over-Year, Month-to-Month

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 Even as construction firms added jobs in 41 states between March 2014 and March 2015, construction employment declined in 29 states and the District of Columbia between February and March, according to a recent analysis of Labor Department data by the Associated General Contractors of America. Association officials cautioned that ongoing D.C. gridlock over how to pay for needed infrastructure improvements and declining demand for oil-related projects likely contributed to so many states shedding construction jobs last month. “While the year-over-year data remains relatively positive, it is troubling to see so many states losing construction jobs during the past month,” … Read more

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Construction Materials Prices Expand in March

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Prices for inputs to construction industries expanded 0.8 percent in March, the largest monthly increase in more than two years, according to the April 14 producer price index release by the Bureau of Labor Statistics. Prices have now expanded for two consecutive months after declining during the prior six; however, input prices are down 3.6 percent on a year-over-year basis. March marks the fourth consecutive month year-over-year input prices have declined, the longest such streak since 2009. Crude petroleum prices fell 4 percent in March and have fallen in eight of the previous nine months. “Although overall construction materials prices … Read more

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Construction Employment Declines by 1,000 Jobs in March, Unemployment Rate Hits 9.5%

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Construction declined by 1,000 in March but is still up by 282,000 compared to the prior year, as the sector’s unemployment rate fell to 9.5 percent, according to a recent analysis by the Associated General Contractors of America. Association officials noted that declining demand for residential and public sector projects offset gains in other areas to contribute to the overall month job losses. “After 14 months of steady job gains, construction employment suffered in March,” said Ken Simonson, the association’s chief economist. “Except for multifamily construction, home building remains weak and government officials just can’t seem to find a way … Read more

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Construction Starts Rise by 32.4% or Nearly One-Third

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CMD announced that March’s $25 billion of construction starts, excluding residential work, soared higher by 32.4 percent (or nearly one-third) versus February. It was a much greater increase than would have been expected based solely on seasonality. The long-term average February-to-March increase in CMD’s nonresidential building starts has been 6 percent. While the large month-to-month gain this year warrants cheers, it should be noted that February-to-March’s rise last year was also outsized. In fact, it was even bigger, at +40.3 percent. Furthermore, compared with the same standalone month of 2014, March of 2015 was -5.1 percent. Year-to-date starts in 2015 … Read more

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Dodge Momentum Index Dips in March

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NEW YORK, N.Y. — The Dodge Momentum Index dipped slightly in March, falling 2.1 percent to 122.3 (2000=100) from February’s 124.9, according to Dodge Data & Analytics. The index is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. Despite the March decline, the Momentum Index has trended higher over the last 12 months. For the first three months of this year, it has averaged 122.5, a 12 percent gain over the first three months of 2014. This rising … Read more

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