Construction Employment, Spending Hit Three-Year High

Revised government data issued shows the construction industry is contributing substantially to economic and employment growth, according to an analysis by the Associated General Contractors of America. Association officials noted that construction employment rose for the eighth consecutive month in January, while construction spending in December increased for the ninth month in a row. Both totals were the highest levels in more than three years. “The new employment data shows the industry lost even more jobs in the recession than previously estimated but has added almost 300,000 jobs in the past two years, including nearly 100,000 since September,” said Ken … Read more

Filed under: Economic News, NewsTagged with:

Incremental Increase in Nonresidential Construction Spending Forecast for 2013

Washington, D.C. — Growing at a faster rate than the overall U.S. economy, the nonresidential construction industry is expected to see solid, yet measured, increases in activity this year.   High demand for hotels and retail projects have the commercial sector pacing what projects to be a rise in spending this year for nonresidential construction projects of 5.0% — up from a projection of a 4.4% increase in the July 2012 forecast.   The American Institute of Architects semi-annual Consensus Construction Forecast, a survey of the nation's leading construction forecasters, also projects a 7.2% increase of spending in 2014. “After … Read more

Filed under: Economic News, News

AGC Construction Employment December Update

Construction employment increased in 139 out of 337 metropolitan areas between December 2011 and December 2012, declined in 131 and was stagnant in 65, according to a new analysis of federal employment data released today by the Associated General Contractors of America. Association officials noted that growing private sector demand for new construction projects boosted employment in a slight plurality of metro areas. “Private sector demand for energy, health care, higher education and residential construction is having a positive impact in a growing number of metro areas,” said Ken Simonson, the association's chief economist. “Unfortunately, construction employment in almost as … Read more

Filed under: Economic News, NewsTagged with:

Fifth Consecutive Month of Gains in Architecture Billings Index

WASHINGTON, D.C. — Business conditions at architecture firms continue to improve. As a leading economic indicator of construction activity, the Architecture Billings Index reflects the approximate nine- to twelve- month lag time between architecture billings and construction spending. The American Institute of Architects reported the December ABI score was 52.0, down from the mark of 53.2 in November.   This score reflects an increase in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 59.4, down slightly from the 59.6 mark of the previous month. “While it’s not an across-the-board … Read more

Filed under: Economic News, eNews

Construction Employment, Optimism Grows

Construction employment expanded in two-thirds of all states in December and in half the nation last year 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 noted that contractors responding to a recent survey expect to add more workers in 2013. “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 do not keep … Read more

Filed under: Economic News, NewsTagged with: