Construction spending continued to show a mixed and volatile pattern in July as large monthly declines in public spending, residential improvements and factory construction exceeded increases in other private nonresidential, home and apartment construction, the Associated General Contractors of America reported in an analysis of new Census Bureau data. Association officials said the data reflects continued weakness in the overall construction market. “The construction spending pendulum is likely to keep swinging between gains and losses, given the spotty increases that are occurring in private investment and sharp declines in federal, state and local construction budgets,” the association's chief economist, Ken … Read more
Construction, Architecture Groups Urge President, Congress to Adopt Measures to Boost Work
WASHINGTON, D.C. — The American Institute of Architects, the Associated General Contractors of America and the U.S. Chamber of Commerce issued a joint statement urging policymakers to take immediate steps to create jobs in the design and construction industry. On the eve of the Obama Administration's major jobs initiative, the AIA and AGC, which together represent nearly 110,000 architects and general contractors, said the effort is designed to highlight how vital the design and construction industry is to the health of the entire economy. The industry employs more than 5 million people and has suffered from unemployment of one and … Read more
Construction Employment Inches Up in July
Construction employment inched up by 8,000 jobs to a 15-month high in July but remained far below the peak set in early 2006, according to an analysis of new federal employment data released by the Associated General Contractors of America. Association officials said a grim outlook for public sector construction activity will act as a drag on expanding private sector construction. They urged lawmakers to pass adequate long-term funding for public projects, without unnecessary strings attached. The industry unemployment rate fell from 17.3 percent a year earlier to 13.6 percent in July 2011, and the number of unemployed people who … Read more
Construction Employment Increases in 149 Out of 337 Metro Areas between June 2010 and 2011
Construction employment increased in 149 out of 337 metropolitan areas between June 2010 and June 2011, declined in 141 and stayed level in 47, according to a new analysis of federal employment data released today by the Associated General Contractors of America. Association officials noted that the local employment data posted slightly stronger gains largely because of growing private sector demand for construction. “A lot of metro areas appear to be benefitting from growing demand from the private sector for new construction,” said Ken Simonson, the association's chief economist. “Declining public sector demand is clearly taking a toll on just … Read more
Construction Spending Edges Up in June
Construction spending edged up 0.2 percent in June as increases in private nonresidential construction outweighed continuing declines in private residential and public construction spending, the Associated General Contractors of America reported in an analysis of new Census Bureau data. The construction trade association's chief economist, Ken Simonson, predicted further imbalances in spending, with further cuts in public spending likely to offset most or all of the gains in private investment. “Private nonresidential construction is rebounding, thanks to renewed investments in power, manufacturing, and warehousing and distribution facilities,” Simonson said. “A small rise in homebuilding also helped overall spending rise for … Read more