Construction input prices decreased 1.4% in August compared to the previous month, according to the Associated Builders and Contractors’ analysis of U.S. Bureau of Labor Statistics Producer Price Index data. Nonresidential construction input prices fell 1.4% for the month, as well. Construction input prices are up 16.7% from a year ago, while nonresidential construction input prices are 16.3% higher. Input prices were up in six of 11 subcategories on a monthly basis. Natural gas prices increased 35.3% (and are 457.9% higher than they were in February 2020), followed by unprocessed energy materials prices, which rose 13.5%. Crude petroleum prices were … Read more

The construction industry added 16,000 jobs on net in August, 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 risen by 311,000 jobs or 4.2%. Nonresidential construction employment rose by 4,300 positions on net, with positive growth in two of three subcategories. Nonresidential specialty trade added 5,600 net new jobs, while nonresidential building added 700 jobs. Heavy and civil engineering employment fell by 2,000 positions. The construction unemployment rate rose to 3.9% in August. Unemployment across all industries expanded from 3.5% in July to … Read more

National nonresidential construction spending was down by 0.5% in June, 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 $829.4 billion for the month. Spending was down on a monthly basis in eight of the 16 nonresidential subcategories. Both private and public nonresidential spending fell by 0.5% in June.