Construction Employment Demand Remains Steady, Reports AGC

Construction employment expanded in 228 metro areas, declined in 64 and was stagnant in 47 between October 2013 and October 2014, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said the construction job gains come as new federal figures show year-over-year growth in construction spending and many firms report impacts from growing shortages of qualified workers. “Even as a number of markets continue to struggle with declining construction demand and employment, most metro areas are adding construction jobs as the industry slowly recovers,” said Ken Simonson, chief economist for … Read more

Filed under: Economic News, News, OrganizationsTagged with:

ABC Predicts Continued Construction Industry Growth in 2015

WASHINGTON, D.C. — Associated Builders and Contractors forecasts a steady and ongoing economic recovery for the U.S. commercial and industrial construction industries in 2015. The reasonably brisk industry recovery in 2014 should continue in 2015, with momentum especially growing in segments closely related to the current American energy and industrial production resurgence. “ABC forecasts nonresidential construction spending will expand by roughly 7.5 percent next year,” said ABC Chief Economist Anirban Basu. “The segments that will experience the largest growth in construction spending in 2015 include power (e.g., natural gas-related construction), lodging (leisure and business spending), office space (professional services employment … Read more

Filed under: Economic News, News, OrganizationsTagged with:

Equipment Leasing and Finance Industry Confidence at Six-Month High

WASHINGTON, D.C. — The Equipment Leasing & Finance Foundation has released the November 2014 Monthly Confidence Index for the Equipment Finance Industry. Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $903-billion equipment finance sector. Overall, confidence in the equipment finance market is 64.2, an increase from the October index of 60.4 and the highest level since May.   When asked about the outlook for the future, MCI-EFI survey respondent Valerie Hayes Jester, President, Brandywine Capital Associates, Inc., said, “The … Read more

Filed under: Economic News, NewsTagged with:

Construction Spending, Public-Sector Demand for Construction Increase

Construction spending increased in October amid growing public-sector demand for construction and continued modest growth in residential, according to an analysis by the Associated General Contractors of America. Association officials said the new spending figures underscore the need for measures to increase the supply of qualified construction workers as firms worry about growing labor shortages. “Today’s data shows that construction growth remains volatile,” said Ken Simonson, the association’s chief economist. “While overall construction spending jumped by more than one percent in October, the gain followed two months of stagnation. Public construction was the fastest-growing segment for the month but the … Read more

Filed under: Economic News, News

Construction Employment Doing Well in Most of the Country, States AGC

Construction firms added jobs in 37 states and the District of Columbia between October 2013 and October 2014, while construction employment increased in 28 states and the District of Columbia between September and October, according to a recent analysis of U.S. Labor Department data by the Associated General Contractors of America. Association officials noted the sector’s recovery is erratic and remains vulnerable to factors like growing labor shortages, new regulatory burdens and stagnant public sector demand. “These year-over-year and one-month changes show that construction is doing well in most of the country,” said Ken Simonson, the association’s chief economist. “Yet, … Read more

Filed under: Economic News, News, OrganizationsTagged with: