Nonresidential Construction Spending Increases 1%, Says ABC

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National nonresidential construction spending grew .9% in November, 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 $930.1 billion for the month. Spending was up on a monthly basis in nine of the 16 nonresidential subcategories. Private nonresidential spending was up 1.7%, while public nonresidential construction spending was down .1% in November.

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ABC: Florida, Arizona Are Best States for Construction

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For the fourth time, Florida claimed the top spot in Associated Builders and Contractors’ eighth annual Merit Shop Scorecard, a ranking of 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. In addition to fostering fair and open competition in public construction work, Florida continues to reap the benefits of providing students with a multitude of career pathways, which in 2022 yielded a graduation rate of 96% for career and technical education program students. Arizona again followed … Read more

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Commercial, Institutional, Healthcare Construction Drive ABC’s Backlog Indicator to Highest Level Since Q2 2019

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Associated Builders and Contractors’ Construction Backlog Indicator has increased to 9.2 months in November, according to an ABC member survey conducted Nov. 21-Dec. 6. The reading is .8 months higher than in November 2021. View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for November 2022. Backlog is now at its highest level since the second quarter of 2019. The increase in backlog observed in November is largely attributed to contractors with under $30 million in revenue, which now have their highest level of backlog in over three years. ABC’s Construction Confidence Index reading for profit margins and staffing … Read more

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Construction Job Openings Decreased By 52,000, Says ABC

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The construction industry had 371,000 job openings in 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 52,000 last month and are down 21,000 from the same time last year.

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Construction Industry Remains Constrained, Marcum Index Shows

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The Marcum Commercial Construction Index for the third quarter of 2022 reports that the construction industry remains constrained by labor shortages and elevated materials prices, but now also faces a rapidly deteriorating economic outlook and severely elevated borrowing costs. While some construction segments retain momentum, there are signs that broader economic weakness have begun to drag on the industry. The index is produced by Marcum’s National Construction Services group. Labor shortages remain the most pressing issue for the construction industry. “The number of unfilled construction jobs increased to 422,000 in September, the most in any month since at least 2000 … Read more

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