Barely one-third of states added construction jobs on either a monthly or annual basis in November, as the prospect of a more severe contraction in 2013 keeps hiring down, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials noted that the threat of the looming fiscal cliff's spending cuts and tax increases is offsetting slight growth in construction spending and keeping employment levels down. “While construction spending has been rising for over a year, contractors have held down employment levels out of fear that failure in Washington to avoid the "fiscal cliff" […]

Construction materials costs dropped in November, aided by a plunge in diesel prices along with smaller decreases in a variety of other inputs, according to an analysis of new federal figures released today by the Associated General Contractors of America. Association officials noted that some of the price declines may be related to the fact that the threat of the fiscal cliff is already having an impact on demand for construction and related materials. “The recent price decreases are very welcome after years of price spikes that contractors could not pass on in a weak construction market,” said Ken Simonson, […]

Construction employment declined by 20,000 jobs in November while the industry’s unemployment rate hit 12.2 percent, according to an analysis of new federal data released today by the Associated General Contractors of America. The construction employment figures likely reflect the fact many contractors have already cut staff and delayed hiring new employees because of the threat of the “fiscal cliff,” according to results of a survey of member firms the association also released today. “It is discouraging that construction employment is still struggling after more three years of expansion in the overall economy,” said Ken Simonson, the association’s chief economist. […]