Construction employment expanded in 35 states in February as the industry added 48,000 jobs nationally, the largest one-month gain in nearly six years, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials cautioned, however, that newly enacted federal budget cuts could reverse the construction employment pickup in numerous states. “The turnaround in construction hiring that began in a few states two years ago has now spread to most of the country,” said Ken Simonson, the association's chief economist. “There are strong indications that the expansion will continue for residential and private nonresidential … Read more
AGC States Skilled Construction Workers are in Demand
Construction employment increased in 145 out of 339 metropolitan areas between January 2012 and January 2013, declined in 141 and was stagnant in 53, according to a new analysis of federal employment data released today by the Associated General Contractors of America. Association officials noted that after years of declining construction, employment contractors in some metro areas are beginning to worry about the availability of skilled workers now that they have resumed hiring. “Not only are a slight plurality of metro areas adding construction jobs, but those areas appear to be adding jobs at a faster rate than places where … Read more
Architecture Billings Index Continues to Improve at a Healthy Pace
WASHINGTON, D.C. — With increasing demand for design services, the Architecture Billings Index is continuing to strengthen. As a leading economic indicator of construction activity, the ABI reflects the approximate nine- to twelve-month lag time between architecture billings and construction spending. The American Institute of Architects reported the February ABI score was 54.9, up slightly from a mark of 54.2 in January. This score reflects a strong increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 64.8, higher than the reading of 63.2 the previous month … Read more
AGC Reports on December to January Construction Employment Data
Construction employment expanded in two-thirds of all states in January as the industry showed signs of emerging from a six-year slump, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials cautioned, however, that the industry’s recovery remains fragile and that current and looming federal budget cuts threaten to drag down construction employment in numerous states. “These results show that contractors are finding work in more parts of the country than they have for many months,” said Ken Simonson, the association's chief economist. “Further gains appear likely but could be derailed if lawmakers … Read more
Construction Materials Prices Increase in February
Prices for construction materials jumped in February, driven by extreme increases in items used in new housing and nonresidential building renovations, according to an analysis of new federal figures released today by the Associated General Contractors of America. Association officials said the increased materials prices are hitting contractors struggling to recover from a years-long downturn in construction demand. “For the second month in a row, contractors endured outsized price hikes for gypsum wallboard, lumber, and insulation materials,” said Ken Simonson, chief economist for the construction trade association. “In addition, soaring diesel prices mean contractors are paying more for fuel they … Read more