Industry Association Urges Congress and the Administration to Act on Long-Delayed Infrastructure Bills and Avoid Tax Rate Increases or Risk Further Job Losses The construction industry added 19,000 jobs in August as a strike that had lowered employment in July ended, but the sector’s 17 percent unemployment rate was the highest August rate ever, according to a new analysis by the Associated General Contractors of America of federal employment data released today. Continuing gridlock in Washington over infrastructure legislation and expiring tax rates threatens to keep construction workers unemployed much longer, association officials warned. “Construction layoffs in May through July … Read more
FMI Releases Nonresidential Construction Index (NRCI) for the Third Quarter, 2010
State and Municipalities Budget Cuts Expected, More Improvement/Alterations Work RALEIGH, N.C. — At 51.3 for the third quarter of 2010, the NRCI is in growth territory for the second quarter in a row; however, it retreated somewhat from the more positive outlook of 54.5 last quarter, according to FMI Corporation, management consultants and investment bankers to the engineering and construction industry. States and municipalities are expected to make significant budget cuts due to lower tax revenues next year, and the federal stimulus support for the market will start to wind down over the next year. The concern now is that … Read more
Construction Job Gains Become More Widespread, Losses Less Severe as Six States Add Jobs Between July 2009 & 2010; 27 States Add Jobs in the Past Month
Kansas Tops Yearly and Vermont & New York Top Monthly Gainers; California and Nevada Experience Most Job Losses During Past Year While Illinois Experiences Largest Monthly Percent Decline Construction job gains were more widespread across the country and job losses were generally less severe in July than in June, the Associated General Contractors of America reported in an analysis of state employment data released today by the Labor Department. Twenty—six states added construction jobs in July, compared to 19 in June, while six states added construction jobs over the past year and most others are losing far fewer jobs than … Read more
Stimulus Helps Construction Spending Post Small Gain In June But Pain Continues For Other Contractors, Association Says
Total construction spending eked out a small rise in June as gains in stimulus-aided public categories offset decreases in homebuilding and private nonresidential spending, the Associated General Contractors of America said today in an analysis of new Census Bureau data. “Stimulus dollars are supporting construction jobs, but the pain is continuing for most contractors and their workers who depend on private projects or school construction,” said Ken Simonson, the association's chief economist. Simonson noted that total construction spending inched up 0.1 percent in June at a seasonally adjusted annual rate, buoyed by a 1.5 percent increase in public construction, which … Read more
Construction Employment Shows Signs Of “Stabilizing”
Six States Add Jobs Between June 2009 & 2010; 22 States Add Jobs During The Past Month; Kansas Tops Yearly and Kentucky Tops Monthly Gainers; Nevada and California Experience Most Jobs Losses During Past Year While Wyoming Experiences Largest Monthly Percent Decline Construction employment edged closer to stabilizing in June, as half the states either added construction jobs or kept the same number as in May, the Associated General Contractors reported in an analysis of federal employment data released today. Compared to June 2009, construction employment rose in six states, the largest number of states to post year-over-year increases since … Read more