ABC Reports Construction Job Openings Decreased by 5,000 in June

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The construction industry had 374,000 job openings on the last day of June, according to an Associated Builders and Contractors’ analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry job openings declined by 5,000 last month and are down 9,000 from the same time last year. “Some will focus on the fact that construction job openings declined in June,” said ABC Chief Economist Anirban Basu. “But the real story is that, despite massive interest rate increases … Read more

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AGC Analysis: Construction Employment Increases in 45 States and D.C. From July 2022 to July 2023

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Construction employment increased in 45 states and the District of Columbia in July from a year earlier, while 27 states added construction employees from June to July, according to a new analysis of federal employment data released by the Associated General Contractors of America. Between July 2022 and July 2023, 45 states and D.C. added construction jobs, while industry employment declined in four states and held steady in Vermont. Texas added the most construction jobs over the year (25,200 jobs or 3.2%), followed by California (13,800 jobs, 1.5%), Ohio (13,100 jobs, 5.6%), and Georgia (10,200 jobs, 4.8%). Arkansas had the … Read more

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Construction Firms Add 19,000 Jobs in July as Sector’s Unemployment Level Hits 3.9%, Average Sector Pay Increases To $34.24 Per Hour

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The construction industry added 19,000 jobs in July even as the sector’s unemployment rate increased, according to an analysis of new government data the Associated General Contractors of America released. Association officials noted that tight labor conditions are bringing more previously employed construction workers back into the job market as firms continue to boost pay levels. Construction employment in July totaled 7,971,000, seasonally adjusted, an addition of 19,000 compared to June. The sector has added 198,000 jobs or 2.5% during the past 12 months. Nonresidential construction firms — nonresidential building and specialty trade contractors along with heavy and civil engineering construction firms — … Read more

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Dodge Momentum Index Recedes 1%

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The Dodge Momentum Index, issued by Dodge Construction Network, declined .9% in July to 193.4 (2000=100) from the revised June reading of 195.1. Over the month, the commercial component of the DMI remained relatively flat, ticking down .2%, while the institutional component fell 1.9%. All commercial sectors pulled back, or remained flat, over the month of July. Hotel planning saw the largest month-over-month decay, marking four months of consecutive decline in the sector. July also saw a deceleration in the number of education and healthcare projects entering planning — the two largest institutional segments. While two sizable public projects entered … Read more

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Construction Industry Continues to Face High PPI Inflation

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According to the U.S. Bureau of Labor Statistics’ latest release of the Producer Price Index for June, the PPI for final demand experienced a modest increase of .1%, after a decline of .4% in May. This upturn can be primarily attributed to a consistent .2% increase in the index for final demand services, mirroring the previous month’s trend, while prices for final demand goods remained steady. Over the 12-month period ending in June, the unadjusted index for final demand showed a modest advancement of .1%. In June, the index for final demand less foods, energy and trade services saw a … Read more

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