ABC’s Construction Backlog Indicator Steady in June

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Associated Builders and Contractors reported that its Construction Backlog Indicator remained unchanged at 8.9 months in June, according to an ABC member survey conducted June 20-July 5. The reading is unchanged from June 2022. View the historic Construction Backlog Indicator and Construction Confidence Index data series. Backlog in the infrastructure category increased for the third straight month and is now at the highest level in nearly two years. On a regional basis, the South remains the region with the highest backlog, despite being the only region in which backlog declined in June. ABC’s Construction Confidence Index reading for sales, profit margins … Read more

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Construction Employment Increases In 230 of 358 Metro Areas from May 2022 to May 2023

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Construction employment increased in 230, or 64%, of 358 metro areas between May 2022 and May 2023, according to an analysis by the Associated General Contractors of America of new government employment data. Association officials cautioned, however, that it is getting harder for firms to find workers as the unemployment rate for the construction sector continues to fall. Dallas-Plano-Irving, Texas added the most construction jobs (11,600 jobs or 8%), followed by New York City (9,600 jobs, 7%); Columbus, Ohio (6,100 jobs, 13%); Atlanta-Sandy Springs-Roswell, Ga. (6,000 jobs, 4%); and Portland-Vancouver-Hillsboro, Ore.-Wash. (6,000 jobs, 7%). The largest percentage gains were in Hanford-Corcoran, Calif. (18%, 200 jobs) … Read more

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New Quarterly Cost Report Available from Rider Levett Bucknall

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Rider Levett Bucknall has released its latest Quarterly Cost Report, providing a perspective on the North American construction industry in 14 key markets. With data current to mid-Q2 2023, the latest RLB quarterly cost report shows that the national average increase in construction costs was 1.56% over the previous quarter, with Chicago, Denver, Las Vegas and San Francisco experiencing increases over the national average this quarter. Boston, Honolulu, Los Angeles, Portland, Seattle and Washington, D.C. experienced gains were less than the national average. Quarterly Cost Report notes: The U.S. quarterly national average increase in construction cost is approximately 1.56%, compared to 7.22% year-over-year The construction … Read more

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Construction Employment Increases In 42 States, D.C. From May 2022 to May 2023

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Construction employment increased in 42 states and the District of Columbia in May from a year earlier, while only 24 states added construction jobs from April to May, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said firms are struggling to find new workers amid a lack of funding for construction education programs, keeping monthly employment gains lower in many parts of the country. Between May 2022 and May 2023, 42 states and D.C. added construction jobs, while industry employment declined in seven states and held steady in Vermont. Texas added the … Read more

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Monthly Construction Input Prices Decrease, Says ABC

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Construction input prices fell .6% in May compared to the previous month, according to an Associated Builders and Contractors analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices declined .5% for the month. Overall construction input prices are 3.7% lower than a year ago. Nonresidential construction input prices are 3.4% lower. Prices declined in all three energy subcategories. Crude petroleum prices were down 10.2% in May, while unprocessed energy materials were down 7.8%. Natural gas prices fell 2% for the month. “The headline numbers suggest broad-based deflation in construction materials prices,” said ABC … Read more

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