WASHINGTON, D.C. — After indicating increasing demand for design services for the better part of a year, the Architecture Billings Index has reversed course in April. As a leading economic indicator of construction activity, the ABI reflects the approximate from nine- to twelve-month lag time between architecture billings and construction spending. The American Institute of Architects reported the April ABI score was 48.6, down from a mark of 51.9 in March. This score reflects a decrease in demand for design services (any score above 50 indicates an increase in billings) and is the lowest mark since July … Read more
Construction Employment Declines, Says AGC
Construction employment declined in 32 states and the District of Columbia in April even as 29 states added jobs between April 2012 and April 2013, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials noted that construction demand in a number of states appears to be slackening amid federal construction spending cuts and relatively weak private sector demand. “The industry shows signs of recovering but employment growth continues to be uneven, with some areas seeing stronger gains even as others continue to contract,” said Ken Simonson, the association's chief economist. “In addition, … Read more
Marcum Nonresidential Construction Recovery Update
NEW YORK, N.Y. — Nonresidential construction spending retrenched in the first quarter of 2013 despite an expansion of the U.S. economy and an improving housing market, according to the quarterly Marcum Commercial Construction Index. The positive performance of both economic indicators produced a modest improvement in construction employment. A complete copy of the Marcum index can be viewed online at www.marcumllp.com/constructionindex. Nonresidential Fixed Investment in Structures for the first quarter declined 0.3 percent, even as U.S. Gross Domestic Product increased 2.5 percent. The first quarter commercial construction decline compares to a gain of 16.7 percent in … Read more
Construction Unemployment Drops in April, AGC Reports
The unemployment rate for construction workers fell to the lowest April level in five years as contractors added more than 150,000 employees in the past year despite a dip in employment last month, according to an analysis of new government data by the Associated General Contractors of America. Association officials noted that, despite the monthly drop, the industry is likely to continue adding jobs for much of 2013. “It is heartening to see that both nonresidential and residential segments of the construction industry added significant numbers of workers in the last 12 months, even though gains from March to April … Read more
AGC Reports Construction Employment, Spending Rises in March
Construction employment increased in 152 out of 339 metropolitan areas between March 2012 and March 2013, declined in 126 and was stagnant in 61, according to a new analysis of federal employment data released today by the Associated General Contractors of America. Association officials noted that many metro areas are adding jobs as construction spending increased 4.8 percent, or $38.9 billion, during the same timeframe. “Today's figures on employment by metro area and construction spending nationally in March highlight the uneven and fragile recovery that construction is experiencing,” said Ken Simonson, the association's chief economist. “The totals are up on … Read more