AGC Reports on December to January Construction Employment Data

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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

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Construction Materials Prices Increase in February

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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

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Construction Employment at Three-Year High

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The construction industry added 48,000 jobs in February, the ninth consecutive month of job growth for the sector, as more people are working in construction than at any point in the last three and a half years, according to an analysis of new government data by the Associated General Contractors of America. Association officials cautioned, however, that employment gains remain tenuous and could be undermined if Washington officials fail to reach a deal on federal investment levels later this month. “With construction employment increasing by the largest amount for a single month in nearly six years, the steady improvement in … Read more

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Nonresidential Construction Index Continues to Rise

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RALEIGH, N.C. — FMI, provider of management consulting and investment banking to the engineering and construction industry, announced the release of The 2013 First Quarter Nonresidential Construction Index report. The NRCI of 58.1 is a 2.6-point improvement over the fourth quarter of 2012. The improvement reflects fundamental bright spots in the economy. “Optimistic but not bullish” is the way one panelist described his outlook on hiring for his company in 2013. Reflective of this is that 45 percent of NRCI panelists expect to increase full-time direct employees by as much as 5 percent, with most noting that hiring will be … Read more

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Construction Spending Declines in January, Gains Year-Over-Year

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Construction spending snapped a nine-month string of monthly gains with a sharp decline in January but still rose from year-ago levels, according to an analysis of new Census Bureau data by the Associated General Contractors of America. Association officials cautioned that “across-the-board” federal spending cuts known as sequestration, along with a possible shutdown of the federal government later this month, could hit construction harder than most sectors and dampen demand for needed projects. “At first glance, January was a bad month for construction, with a sharp drop in private nonresidential spending, along with small dips in residential and public construction,” … Read more

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