Construction Materials Prices Spike in March

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The cost of construction materials jumped in March, even as the amount contractors charge to complete projects remained stagnant, according to an analysis of producer price index figures released by the Associated General Contractors of America. Association officials noted the spike in materials prices continues despite relatively weak overall demand for construction, and cautioned that current market conditions could force some firms out of business. “Price shocks for a number of key construction materials may have caught contractors by surprise in a period when overall inflation remained very moderate,” said Ken Simonson, the association's chief economist. “Even though the increases … Read more

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Private Sector Demand for Construction Increases

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Construction employment increased in 171 out of 337 metropolitan areas between February 2011 and February 2012, decreased in 119 and stayed level in 47, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said employment was increasing in many metro areas thanks in large part to growing private sector demand for construction. “It is encouraging that the number of metro areas experiencing construction job gains outpaced the number of areas with losses,” said Ken Simonson, the association's chief economist. “The increases would be even more widespread if not for public … Read more

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AGC Releases Latest Construction Employment Data

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The construction industry lost 7,000 jobs between February and March, following a similar decline of 6,000 the month before, but extended a pattern of modest year-over-year job increases, according to an analysis of new federal employment data released by the Associated General Contractors of America. Association officials said that lack of long-term federal highway and transit funding threatens to hold down future job gains. “Both the small monthly change and the March-to-March gain of 55,000 jobs or 1 percent are consistent with the uneven, tentative recovery that contractors have been reporting nationwide,” said Ken Simonson, the association's chief economist. He … Read more

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Year-Over-Year Gains in Private Construction Outweigh Public Sector Cuts

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Construction spending in February topped year-ago totals by 5.8 percent as a double-digit increase in private construction offset a small drop in public sector spending, according to a new analysis of federal data released by the Associated General Contractors of America. The gains occurred despite a 1.1 percent decrease in spending from January to February and a dip of 0.8 percent the month before, based on revised data. “It is heartening to see that nearly all private residential and nonresidential segments exceeded their February 2011 levels this February and that the decline in public construction has moderated from the steep … Read more

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Construction Employment Rises in February

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Construction employment rose in 30 states and the District of Columbia between February 2011 and February 2012, while 18 states lost construction jobs and two held steady—the best net positive showing for state construction employment since January 2007, according to an analysis by the Associated General Contractors of America of Labor Department data. Twenty-nine states and D.C. added construction jobs between January and February, while 21 states had decreases for the month. “The number of states with year-over-year construction job gains keeps rising, which is very encouraging,” said Ken Simonson, the association's chief economist. “But the industry is still struggling … Read more

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