Architecture firms reported a modest decrease in April billings. However, there was a slight increase in inquiries into future project activity according to a report released from The American Institute of Architects.
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
The latest edition of The Civil Quarterly from Dodge Construction Network shows that despite ongoing labor issues, business conditions are still very strong for civil contractors, with 77% optimistic about the market continuing to be robust for the remainder of 2023, and 46% expecting to see their profit margins increase in the next six months. However, the strong construction market can also exacerbate civil contractor’s ongoing challenges, such as skilled worker shortages and supply chain challenges. This edition of the TCQ offers new data that reveals how contractors are managing these challenges, including how they are attempting to use technology … Read more
Turner Construction Company has released its First Quarter 2023 Turner Building Cost Index — which measures costs in the nonresidential building construction market in the United States — had increased to the value of 1349. This represents a 1.28% quarterly increase from the fourth quarter 2022 and a 7.49% yearly increase from the first quarter 2022. The building costs and price trends tracked by the index may or may not reflect regional conditions in any given quarter. The cost index is determined by several factors considered on a nationwide basis, including labor rates and productivity, material prices and the competitive … Read more
Billd has released its third-annual construction industry market report, the 2023 National Subcontractor Market Report: $97 Billion in Extra Weight on the Shoulders of America’s Subcontractors. Billd surveyed nearly 900 commercial construction professionals across the country, largely consisting of business owners and executives. The report indicates that subcontractors continued to bear the brunt of rising input costs for materials and labor in 2022 to the tune of $97 billion in unplanned expenses. Rising material costs and price volatility are not new issues for subcontractors, with 81% of those surveyed reporting a negative effect on their businesses in 2022; 80% expect that trend to continue. It is … Read more
Join our thriving community of 70,000+ superintendents and trade professionals on LinkedIn!
Search our job board for your next opportunity, or post an opening within your company.
Subscribe to our monthly
Construction Superintendent eNewsletter and stay current.