ABC’s Construction Backlog Indicator Inches Lower in February

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Associated Builders and Contractors reported that its Construction Backlog Indicator fell to 8.3 months in February, according to an ABC member survey conducted Feb. 20 to March 5. The reading is up 0.2 months since February 2024. Backlog fell on a monthly basis for contractors with less than $100 million in annual revenues while increasing sharply for contractors with greater than $100 million in annual revenue. Those largest contractors have also accounted for the majority of the increase in backlog observed over the past year. ABC’s Construction Confidence Index reading for staffing improved, while the reading for profit margins declined. … Read more

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ABC: Construction Employment Growth Strong in February

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The construction industry added 19,000 jobs on net in February, 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 174,000 jobs, an increase of 2.1%. Nonresidential construction employment increased by 6,200 positions on net, with growth in all three subcategories. Heavy and civil engineering added the most jobs, increasing by 2,500 positions, followed by nonresidential specialty trade, which added 2,000 jobs. Nonresidential building added 1,700 jobs last month. The construction unemployment rate rose to 7.2% in February. Unemployment across all industries increased … Read more

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ABC: Construction Materials Prices Increase 1.4% in January, Up 40.5% Since February 2020

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Construction input prices increased 1.4% in January compared to the previous month, according to an Associated Builders and Contractors’ analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices increased 0.9% for the month. Overall construction input prices are 1.3% higher than a year ago, while nonresidential construction input prices are 0.7% higher. Prices increased in all three energy subcategories last month. Crude petroleum prices increased 14.8%, while natural gas and unprocessed energy material prices increased 13.7% and 13.0%, respectively. “Materials prices increased at the fastest monthly pace in two years in January,” said ABC … Read more

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Dodge Momentum Index Grows 6% in January

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The Dodge Momentum Index, issued by Dodge Construction Network, grew 5.6% in January to 225.7 (2000=100) from the revised December reading of 213.6. Over the month, commercial planning increased 4.2% while institutional planning improved 8.7%. On the commercial side, data center, traditional office building and warehouse planning led this month’s gains. Education and healthcare planning supported the institutional portion, especially on the hospital side. In January, the DMI was up 26% when compared to year-ago levels. The commercial segment was up 37% from January 2024, while the institutional segment was up 9% over the same period. A total of 33 … Read more

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ABC: All but 3 States Had Construction Unemployment Rates Below 10% in December 2024

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The national December 2024 not seasonally adjusted construction unemployment rate was 5.2%, up 0.8% from December 2023, according to a state-by-state analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. The analysis found that only six states had lower estimated construction unemployment rates over the same period and 44 states were higher. All but three states (Minnesota, New Jersey and Rhode Island) had construction unemployment rates below 10%. National NSA payroll construction employment was 191,000 higher than December 2023. As of December 2024, SA payroll construction employment was 701,000, or 9.2%, above its pre-pandemic peak … Read more

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