ABC: Construction Job Openings Decrease by 4,000

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The construction industry had 423,000 job openings on the last day of October, 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 4,000 in October but are up by 25,000 from the same time last year. “The number of economywide job openings fell to 8.7 million in October, the lowest total since March 2021,” said ABC Chief Economist Anirban Basu. “This is a strong indication … Read more

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ABC: Nonresidential Construction Spending Inches Higher, up 20% Over the Past Year

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National nonresidential construction spending increased 0.1% in October, 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 $1.1 trillion. Spending was up on a monthly basis in 8 of the 16 nonresidential subcategories. Private nonresidential spending increased 0.1% in October, while public nonresidential construction spending was up 0.2%.  

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Dodge Construction Network: Construction Starts Drop 7% in October

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Total construction starts fell 7% in October to a seasonally adjusted annual rate of $1.1 trillion, according to Dodge Construction Network. Nonbuilding and residential starts fell 32% and 1%, respectively. Conversely, nonresidential building starts gained 8% during the month. Year-to-date through October 2023, total construction starts were 4% below that of 2022. Residential and nonresidential starts were down 15% and 7%, respectively; however, nonbuilding starts were up 20%. For the 12 months ending October 2023, total construction starts were down 1%. Nonbuilding starts were 22% higher, and nonresidential building starts gained 1%. On a 12-month rolling basis, residential starts posted … Read more

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Construction Employment Rises In 40 States & D.C.

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Construction employment increased in 40 states and the District of Columbia in October from a year earlier, while 22 states added construction jobs from September to October, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said more states would likely have added construction jobs if the pool of available, qualified workers were larger. Between October 2022 and October 2023, 40 states and D.C. added construction jobs, while industry employment declined in eight states and held steady in Connecticut and Virginia. California added the most construction employees over the year (21,000 jobs … Read more

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ABC Construction Backlog Indicator Falls for Small Contractors, Increases for Large Contractors

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Associated Builders and Contractors reported that its Construction Backlog Indicator declined to 8.4 months in October from 9 months in September, according to an ABC member survey conducted Oct. 19-Nov. 2. The reading is down 0.4 months from October 2022. View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for October. View the full Construction Backlog Indicator and Construction Confidence Index data series. Backlog now stands at its lowest level since the first quarter of 2022. Declines were concentrated among the smallest contractors, those with less than $30 million in annual revenues. All three other revenue categories experienced an … Read more

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