Construction Industry Adds 17,000 Workers

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The construction sector added 17,000 employees in December and continued to raise wages at a faster clip than other industries, the Associated General Contractors of America reported in an analysis of government data released today. Association officials said the survey it released this week found contractors expect to hire more employees in 2024 but are struggling to find enough qualified workers. Construction employment in December totaled 8,056,000, seasonally adjusted, an increase of 17,000 from November. The sector has added 197,000 jobs during the past 12 months. That was a gain of 2.5%, which outpaced the 1.7% job growth in the overall economy. … Read more

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Construction Job Openings Rise to Highest Level Since 2022, Says ABC

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The construction industry had 459,000 job openings on the last day of November, 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 increased by 43,000 last month and are up by 111,000 from the same time last year. “The number of open, unfilled construction positions increased to the highest level since the end of 2022,” said ABC Chief Economist Anirban Basu. “November’s 5.4% job opening rate is … Read more

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Dodge Momentum Index: Nonresidential Planning Activity Remains Historically Elevated

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The Dodge Momentum Index , issued by Dodge Construction Network, decreased 1% in November to 179.2 (2000=100) from the revised October reading of 181.7. Over the month, the commercial and institutional components both fell 1%. “While both portions of the Momentum Index saw slower momentum in planning, overall levels remain steady and will support construction spending in 2024 and 2025,” stated Sarah Martin, associate director of forecasting for DCN. “Nonresidential planning activity will remain constrained from stronger growth amidst ongoing labor and construction cost challenges.” Excluding data center activity, all commercial segments saw declines in November. On the institutional side, … Read more

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Construction Industry in US, Canada Poised for Growth

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After a year of stabilization, the construction industry in the U.S. and Canada is positioned for success in 2024, thanks to strong demand and as the normalization of supply chains and material prices continue. JLL’s new U.S. and Canada Construction Trends 2024 forecast explores the opportunities and challenges facing the construction industry in the year to come. “The industry is ready to successfully meet the challenges of 2024,” said Todd Burns, president, Project and Development Services, Americas, JLL. “With immense housing needs, return to office strengthening and federally backed infrastructure and manufacturing accelerating, the industry is poised for growth despite … Read more

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ABC: Georgia is No. 1 State for Construction

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For the first time, Georgia was named the top state for construction in Associated Builders and Contractors’ annual Merit Shop Scorecard. The scorecard, released yearly since 2015, ranks all 50 states and the District of Columbia based on policies and programs that strengthen career pathways in construction, encourage workforce development and advocate for fair and open competition on taxpayer-funded construction projects. Georgia’s construction industry continues to prosper, and it earned the top spot due to the state’s continued dedication to workforce development. This year, 99% of career and technical education students in the state earned a credential and/or continued to a … Read more

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