Construction employment declined in 157 out of 337 metropolitan areas between April 2011 and April 2012, increased in 120 and stayed level in 60, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said construction employment continues to suffer from relatively weak demand being driven largely by declines in public sector investments. “As public investments in infrastructure and other forms of construction continue to decline, construction employment is taking a hit in many parts of the country,” said Ken Simonson, the association's chief economist. “Even in places where construction employment … Read more
Local and National Construction Leaders Comment on Latest Numbers
COCONUT CREEK, Fla. — The nation’s construction industry unemployment rate fell to 14.5 percent, down from 17.2 percent in March and 17.8 percent in April, according to the May 4 employment report by the U.S. Labor Department. Year over year, the construction industry has added 63,000 jobs or 1.1 percent. “The nation’s economy has managed to regain some semblance of momentum since last September, which should ultimately translate into better news for the construction industry,” said ABC Chief Economist Anirban Basu. The nonresidential building construction sector has added 6,000 jobs, a 0.9 percent increase year-over-year as April employment stood at … Read more
AGC Releases Latest Construction Employment Data
Construction employment remained on a seesaw in April as only 19 states added jobs, 28 states and the District of Columbia had declines and three states maintained March employment levels, according to an analysis by the Associated General Contractors of America of Labor Department data. The year-over-year figures showed a similar but slightly better pattern, association officials added, as 22 states and D.C. posted construction employment increases between April 2011 and 2012. while 27 lost jobs and employment was unchanged in Rhode Island. “The close balance between job gainers and losers among states reflects the sluggish growth in construction nationally,” … Read more
AIA Releases Latest Architecture Billings Index
WASHINGTON, D.C. — The American Institute of Architects reported the April ABI score was 48.4, following a mark of 50.4 in March. This score reflects a decrease in demand for design services (any score above 50 indicates an increase in billings). The new projects inquiry index was 54.4, down from mark of 56.6 the previous month. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to 12-month lag time between architecture billings and construction spending. “Considering the continued volatility in the overall economy, this decline in demand for design services isn"t terribly surprising,” said AIA … Read more
Construction Materials Prices Inch Up in April
The cost of construction materials took a breather in April, while contractors showed slightly greater ability to roll past price increases into their bids, according to an analysis of producer price index figures released by the Associated General Contractors of America. Association officials noted despite the temporary reprieve from materials price hikes, market conditions for construction remain difficult. “Contractors caught a bit of a break on major input costs in April, enabling some firms to make up for recent price spikes,” said Ken Simonson, the association's chief economist. “However, workloads remain uneven by segment and geographical region, leaving many firms … Read more