Construction Job Openings at 350,000, Says ABC

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The construction industry had 350,000 job openings on the last day of August, 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 decreased by 3,000 last month but are up by 5,000 from the same time last year. “The number of open, unfilled construction positions declined in August but remains higher than both one year ago and the pre-pandemic level,” said ABC Chief Economist Anirban Basu. “Despite … Read more

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ABC: Nonresidential Construction Spending Increases

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National nonresidential construction spending increased .4% in August, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.09 trillion. Spending was up on a monthly basis in 12 of the 16 nonresidential subcategories. Private nonresidential spending increased by .3%, while public nonresidential construction spending was up .6% in August.

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Construction Commodities Prices Continue to Stabilize, Digital + Energy Transformation Drive Industry Growth

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Global construction consultant Linesight released its Q2 US Country Commodity Report , noting that commodity prices are continuing to stabilize, albeit at elevated levels, with the GDP rising beyond expectations and signs of cooling inflation. Digital transformation is driving rapid expansion in the data center and high-tech industrial sectors in the United States supported by federal legislation such as the CHIPS and Science Act and the Infrastructure Investment and Jobs Act. This is presenting some challenges namely in skilled workers to deliver the facilities, as well as a growing need to identify new sites and locations to meet the digital … Read more

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Producer Price Index for Construction Materials, Services Rises 1.1%

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The price of materials and services used in nonresidential construction increased 1.1% from July to August, driven by an extreme jump in diesel fuel costs, according to an analysis by the Associated General Contractors of America. Association officials noted that most other commodity prices were subdued but said their newly released survey showed contractors continue to experience widespread problems finding qualified workers and the costs associated with those shortages. The producer price index for diesel fuel, which covers the selling price at the terminal rack or refinery, soared 34.6% from mid-July to mid-August, the largest one-month jump since 1990. Simonson noted that retail diesel … Read more

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ABC: Monthly Construction Input Prices Increased 1.5%

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Construction input prices rose 1.5% in August compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics Producer Price Index data released. Nonresidential construction input prices also increased 1.5% for the month, but are up just 0.2% from a year ago. Rising energy prices drove overall price increases in August. Crude petroleum prices were up 8.9% and unprocessed energy materials prices rose 5.4% last month.

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