Construction employers added 6,000 workers to payrolls in June as the industry's unemployment rate dropped to 8.2 percent, its lowest June level in six years, according to an analysis of new government data by the Associated General Contractors of America. Association officials cautioned, however, that recent employment gains could be undermined when the federal government begins scaling back transportation investments in August. “The construction industry continues to expand gradually and unevenly,” said Ken Simonson, the association’s chief economist. “Despite recent job growth, construction employment is still more than 1.7 million jobs or 22 percent below its 2006 peak.” Construction … Read more
Construction Spending Edges Higher, Gains Offset Residential Downturn
Total construction spending edged higher for the third straight month in May, as solid increases in private nonresidential and public construction outweighed a downturn in residential projects, according to an analysis of new Census Bureau data by the Associated General Contractors of America. Association officials cautioned that the pickup in highway spending is in jeopardy of reversing sharply unless policy makers act urgently to shore up the federal Highway Trust Fund. “The May figures show that construction activity continues to expand, but with lots of variability by month and project type,” said Ken Simonson, the association’s chief economist. “These uneven … Read more
AGC Recaps New Construction Employment Analysis
Construction employment expanded in 218 metro areas, declined in 72 and was stagnant in 49 between May 2013 and May 2014, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials warned that job losses could spread to more metros unless policymakers in Washington quickly agree on providing new funding for the federal highway program. “Construction employment continues to rise in about two-thirds of the nation's metro areas,” said Ken Simonson, the association’s chief economist. “However, there are still many areas that have not achieved consistent growth, and very few metros … Read more
May Construction Retreats 5%
NEW YORK, N.Y. — At a seasonally adjusted annual rate of $513.4 billion, new construction starts in May dropped 5 percent from the previous month, according to McGraw Hill Construction, a division of McGraw Hill Financial. The reduced pace for total construction starts reflected a moderate loss of momentum for nonresidential building and housing, while the non-building construction sector eased back slightly. The total construction decline followed two months of strengthening activity, although May's level was still above the lackluster volume registered at the outset of 2014. For the first five months of 2014, total construction starts on an unadjusted … Read more
ARCADIS Report: U.S. Construction Dispute Values Triple to $34.3M in 2013
HIGHLANDS RANCH, Colo. — In its fourth annual Global Construction Disputes Report, ARCADIS reported that in 2013, the average claimed value of construction disputes in the U.S. tripled over 2012, to an average of $34.3 million. However, the U.S. was still well below average construction dispute values globally, behind Asia and the Middle East. At the same time, construction disputes in the U.S. took 1.8 months longer to resolve than in 2012, averaging 13.7 months. This year's ARCADIS report on the top trends driving the value, duration, causes and resolutions of construction disputes worldwide, "Global Construction Disputes: Getting the Basics … Read more