Industry Adds 15,000 Jobs in February, Reaches Highest Level Since June 2009

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Construction employers added 15,000 workers to payrolls in February despite harsh winter working conditions, raising industry employment to the highest level since June 2009, according to an analysis of new government data by the Associated General Contractors of America. However, association officials noted that as the industry adds jobs many firms report they are having a hard time finding skilled workers. “The rate of construction hiring has outpaced job growth in the overall economy for the past year,” said Ken Simonson, the association’s chief economist. “During that time, all construction segments have added workers.”  Construction employment totaled 5,941,000 in February, […]

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Architecture Billings Index Experiences Slight Rebound

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WASHINGTON, D.C. — After consecutive months of contracting demand for design services, there was a modest uptick in the Architecture Billings Index. As a leading economic indicator of construction activity, the ABI reflects the approximate 9-12 month lead time between architecture billings and construction spending. The American Institute of Architects reported the January ABI score was 50.4, up from a mark of 48.5 in December.   This score reflects an increase in design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 58.5, down a bit from the reading of 59.2 the previous […]

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Construction Materials Prices, Nonresidential Buildings Rise in January

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Prices for materials used in construction and for nonresidential building construction both increased more than overall prices for “final demand” in January, according to a new analysis of retooled federal data on producer prices released by the Associated General Contractors of America. As a result, margins remain very tight for most construction firms, even as private-sector demand for construction continues to grow. “Although contractors on average were able to raise bid prices in line with materials cost increases, the results varied widely by commodity, building type and specialty trade,” said Ken Simonson, the association's chief economist. “Several key construction materials, […]

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Nonresidential Construction Index Reaches Record High

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NRCI = 64.9 RALEIGH, N.C. — FMI announced the release of the 2014 First Quarter Nonresidential Construction Index report. The NRCI shows a 7.5 point increase since the 2013 fourth quarter report, as well as a 6.8 point increase from Q1 2013. This is the highest NRCI score to date. The increase in score comes from an optimistic view of a rising economy, as nearly half of the participants expect construction to grow up to 5 percent in 2014. With the increase in growth, executives are eagerly searching for talented individuals to assist and manage industry projects. Panelists with a […]

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Nonresidential Construction Gains Jobs in January

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The construction industry gained 48,000 jobs in January, according to the Feb. 7 employment report by the U.S. Department of Labor. Nonresidential construction gained 21,000 jobs, representing a significant rebound from the 14,100 jobs lost by the segment in December. Nonresidential construction accounted for 47.7 percent of January’s total construction industry job gain and 28.1 percent of the construction industry job gain in the past year. The national construction unemployment rate expanded to 12.3 percent on a non-seasonally adjusted basis in January, compared with 11.4 percent in December. This was due to a combination of seasonal factors and may be […]

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