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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Nonresidential Construction Employment Increases in May

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The construction industry added 25,000 jobs on net in May, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has increased by 192,000 jobs, an increase of 2.5%.

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Marcum Releases Q1 2023 Report

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The Marcum Commercial Construction Index for the first quarter of 2023 reports that the construction industry retains momentum despite still-elevated inflation and ongoing labor shortages.  Despite that momentum, the combination of high interest rates and tightening credit conditions, along with a dour economic outlook, means that construction activity could slow in the latter part of 2023. Manufacturing-related construction continued to outpace the nonresidential segment. Residential construction volumes faded during the first quarter, though some parts of the segment have fared better than others. The industry continued to add workers at a faster pace than the broader economy during the first quarter. Labor … Read more

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Construction Firms Add 15,000 Jobs as Unemployment Rate Hits Record Low

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The construction sector added 15,000 jobs in April while the sector’s unemployment rate fell to a record low for the month and the number of unfilled construction positions is close to a monthly high, according to an analysis of new government data the Associated General Contractors of America released. Association officials said the industry likely would have added even more positions if contractors could find more qualified workers. Construction employment in April totaled 7.9 million seasonally adjusted, an addition of 15,000 or .2% from the month prior. Nonresidential construction firms — nonresidential building and specialty trade contractors along with heavy and civil … Read more

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