Construction employment decreased in 27 states and the District of Columbia between February and March, while 33 states lost construction jobs during the past 12 months, the Associated General Contractors of America reported in an analysis of state employment data released by the Labor Department. Association officials said the data show that construction remains gripped in a depression that merits urgent corrective actions at federal and state levels. “These data show that recovery is spotty and variable in construction, as the location and number of states with job gains retreated from the levels in February,” said Ken Simonson, the association's … Read more
Construction Employment Increases in February, According to AGC
Construction employment increased in 141 out of 337 metropolitan areas between February 2010 and February 2011, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said that the relatively positive figures were likely affected by significantly improved winter weather in February, combined with the benefits of ongoing stimulus and other temporary federal construction programs. “With nearly half of all U.S. metro areas finally adding construction jobs, these numbers are welcome news,” said Ken Simonson, the association's chief economist. “But warm winter weather probably played a larger role in driving these … Read more
"Build America Bonds" Program Generates $44-$50B in New Construction, AIA Says
AIA Calls for Renewal of Program to Spur Job Creations in Design and Construction Industry WASHINGTON, D.C. — The American Institute of Architects has called on Congress to renew in full the Build America Bonds program, in the wake of an AIA estimate that it generated between $44 to $50 billion in new construction activity and jobs in the last two years alone. By providing an attractive tax-credit bond to a wide range of investors, the program exceeded most expectations, and more than $180 billion in municipal debt was issued through the BABs program in 2009 and 2010. Under the … Read more
Construction Employment Increases in 30 States between January and February
Construction employment increased in 30 states between January and February, while 19 states added construction jobs during the past 12 months, the Associated General Contractors of America reported in an analysis of state employment data released by the Labor Department. Association officials cautioned, however, that it was too early to tell whether the relatively positive report reflects improving economic conditions or the benefit of warmer weather much of the country experienced in February. “These are certainly some of the best state-by-state numbers the industry has seen in quite some time,” said Ken Simonson, the association's chief economist. “But it is … Read more
Architecture Billings Index Shows Nominal Increase
Commercial/Industrial Sector Strongest Performing Building Category WASHINGTON, D.C. — During the first two months of 2011 the Architecture Billings Index is not exhibiting the strength of business conditions that were seen in the final quarter of 2010. 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. The American Institute of Architects (AIA) reported the February ABI score was 50.6, up slightly from a reading of 50.0 the previous month. This score reflects a modest increase in demand for design services (any score above 50 indicates … Read more