July Construction Employment Increases, Worker Availability Decreases

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Construction firms added jobs in 39 states from July 2013 to July 2014 and in 34 states from June to July, according to an analysis of Labor Department data by the Associated General Contractors of America. Association officials said the employment gains are good news, but that the pipeline of skilled craft workers, supervisors and other employees appears to be emptying rapidly. “The overall trend in construction employment has been very consistent in 2014, with more than three-fourths of states adding jobs each month on a year-over-year basis,” said Ken Simonson, the association's chief economist. “However, growing numbers of contractors […]

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Construction Economists Optimistic About 2014-15 Commercial, Industrial Growth

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WASHINGTON, D.C. — Associated Builders and Contractors Chief Economist Anirban Basu, American Institute of Architects Chief Economist Kermit Baker and National Association of Home Builders Chief Economist David Crowe recently provided a collaborative economic forecast combining their expert economic analysis on leading, present and lagging economic indicators. “A combination of low interest rates, wealth effects stemming from a booming stock market and rising home prices, surging energy production and expanding industrial output has helped position the U.S. economy for more rapid growth during the next several quarters,” said Anirban Basu. “This will lead to more robust recovery in the U.S. […]

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Domestic Nonresidential Markets Maintain Growth Trajectory in the Second Quarter

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Turner Construction Company announced that the Second Quarter 2014 Turner Building Cost Index—which measures costs in the nonresidential building construction market in the United States—has increased to a value of 896. This reflects a 1.24 percent increase from the First Quarter 2014 and 4.31 percent yearly increase from the Second Quarter 2013. Growth in nonresidential construction costs continues in the second quarter in virtually all domestic markets. Construction cost escalation is greater in urban centers experiencing high levels of construction activity and in markets with mega projects. The labor cost component in markets experiencing increased volumes of construction activity and […]

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AGC Releases July Construction Unemployment Rate, Spending

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New government data today show the uneven nature of the construction industry's recovery, as the sector added 22,000 jobs in July, but suffered a pullback in spending in June, according to an analysis by the Associated General Contractors of America. Association officials said that uncertainty about federal funding for a range of infrastructure and construction programs is one reason for the uneven recovery. “Construction employment and spending are both rising at a moderate year-over-year clip, but there have been some setbacks,” said Ken Simonson, the association’s chief economist. “While prospects for private construction remain largely favorable, inadequate public investment still […]

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Construction Employment Increases Between June 2013, June 2014

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Construction employment expanded in 215 metro areas, declined in 80 and was stagnant in 44 between June 2013 and June 2014, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials noted that uncertainty about a range of federal infrastructure and construction programs could weigh on future growth for the sector. “Contractors have been expanding their work force in about two-thirds of the country for several months in a row,” said Ken Simonson, the association’s chief economist. “Some metro areas are adding workers at a strong clip, but the gains remain […]

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