Construction employment growth remained sluggish and uneven in May as nearly half – 22 states plus the District of Columbia – added jobs over the past year, while the remaining states all lost construction jobs, according to an analysis by the Associated General Contractors of America of state employment data released by the Labor Department. Association officials said the figures reflect the fact that industry-wide employment has stagnated as the result of tepid demand for most private construction and declines in public construction. “It's not surprising to see close to an even split between states adding and losing jobs given … Read more
Sixty-Three% of Architects Surveyed Report Stalled Projects
Lack of Financing Cited as Primary Cause WASHINGTON, D.C. —Almost two-thirds of architects surveyed by the American Institute of Architects last month report that they have at least one project that is stalled due to lack of financing, despite record low interest rates. The survey of April business activity was taken as part of the AIA's Architectural Billings Index (ABI), a leading monthly economic indicator of construction activity that provides a nine to 12-month glimpse into the future of nonresidential construction spending activity. Of the 63% of firms surveyed with stalled projects, the average value of each project was almost … Read more
Construction Spending Inches Up in April
Construction spending inched up for the second straight month in April, 0.4 percent — following downward revisions to the March spending figures — thanks to increases in private nonresidential and home-improvement spending, the Associated General Contractors of America reported today in an analysis of new Census Bureau data. Association officials noted, however, that the gains were tempered by sluggish homebuilding and declining levels of public investment in construction. “Overall economic conditions seem better than they have been for several years, which normally leads to well-rounded construction growth,” said Ken Simonson, the association's chief economist. “But these figures may be deceptively … Read more
Several States Add Construction Jobs between April 2010 and 2011, AGC Says
Construction employment patterns diverged across the country in April as 19 states plus the District of Columbia added jobs over the past year even as losses deepened in others, the Associated General Contractors of America reported in an analysis of state employment data released by the Labor Department. Association officials said the figures reflect an uneven and unsteady construction industry recovery that could be undermined by looming cost increases and public sector funding cuts. “It is good to see more states adding construction jobs for the year in April than at any point since February 2008,” said Ken Simonson, the … Read more
Construction Backlog Grows 4% in First Quarter
WASHINGTON, D.C. — Associated Builders and Contractors (ABC) reported that its Construction Backlog Indicator (CBI) for the first quarter of 2011 averaged 7.3 months, a 4 percent increase from 7.1 months during the fourth quarter of 2010, and up from 6.1 months, or an increase of 21 percent, from one year ago. CBI is a forward-looking indicator that measures the amount of construction work under contract to be completed in the future. “While the commercial and industrial construction industry is no longer in deep decline, meaningful recovery remains elusive, with CBI still below levels associated with vigorous nonresidential construction activity,” … Read more