AGC Releases Construction Employment Data

Construction employment fell in 288 of the nation’s largest 311 metro areas from April 2008 to April 2009, according to a new analysis of government data conducted by the Associated General Contractors of America’s chief economist Ken Simonson. The data highlights the critical need for the federal government to move quickly to invest stimulus funds without needless requirements that could hamper recovery efforts, he noted. “Job loss figures like these are exactly what prompted Congress and the Administration to craft a stimulus package designed to get Americans back to work as quickly as possible,” said Simonson. “Putting these funds to … Read more

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Trading Helmets for Hardhats, Veterans Find Construction Jobs Despite Economy

WASHINGTON, D.C. — While the nation pauses this Memorial Day to remember its fallen soldiers, at least one group remains on active duty to help our veterans find work during these tough economic times. High unemployment rates have made it harder for recently discharged servicemen and women to transition into civilian careers. And with homebuilding down, the construction industry would seem to offer slim opportunities for our returning heroes. Yet despite these challenges, Helmets to Hardhats has been able to launch nearly 2,000 veterans into careers in the building and construction trades last year alone. Helmets to Hardhats is a … Read more

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Architecture Billings Index Points to Possible Economic Improvement

Unfavorable business conditions remain, but inquiries by potential clients continue to grow Washington, D.C. — May 20 — After an eight-point jump in March, the Architecture Billings Index (ABI) fell less than a full point in April. As a leading economic indicator of construction activity, the ABI reflects the approximate nine to twelve month lag time between architecture billings and construction spending. The American Institute of Architects (AIA) reported the April ABI rating was 42.8, down from the 43.7 mark in March. This was the first time since August and September 2008 that the index was above 40 for consecutive … Read more

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AGC Economist Predicts Nonresidential Construction Spending Will Continue To Dip Before Recovery

May 4 — Ken Simonson, chief economist for the Associated General Contractors of America issued the following analysis of today's Census Bureau data on nonresidential construction spending: “The increase in nonresidential construction spending for March reported today by the Census Bureau is a reminder that construction is often a lagging indicator of economic activity. Increases in manufacturing construction are being propelled by huge refinery and steel-mill projects that were begun well-before the economic downturn. These large projects are eclipsing broader negative trends. However, as they are completed or scaled back in the coming months, we will get a fuller picture … Read more

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Proposed Infrastructure Investments Will Help Create or Support Over 1.85M Jobs in Less Than Two Years, University Economist Stephen Fuller Tells Congress

New proposed infrastructure and public building investments will create or support almost two million jobs throughout the entire economy in part because of the economic slowdown and massive construction layoffs that have occurred, George Mason University economist Stephen Fuller testified today. Professor Fuller, who made the arguments during Congressional testimony today on behalf of the Associated General Contractors of America, noted that the current stimulus plan’s proposed infrastructure investments would create or support more than 1.85 million new jobs between now and the end of 2010. He said that would include over 620,000 construction jobs, 300,000 jobs in supplying industries … Read more

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