Construction Employment Exceeds Pre-Pandemic Peak in 32 States in April

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Construction employment exceeded pre-pandemic levels in 32 states in April, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials cautioned, however, that record high job opening levels in the construction sector indicate that many firms are having a hard time finding workers to hire, putting future job gains at risk.   Ken Simonson, the association’s chief economist noted that government data from the monthly job openings and labor turnover survey show that there were 415,000 job openings in the construction industry at the end of March. That was the highest … Read more

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Nonresidential Construction Input Prices Soar 21% From April 2021 to Last Month

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Prices of materials and services used in new nonresidential construction leaped nearly 21% in April from year-ago levels, according to an analysis by the Associated General Contractors of America of government data. The association urged the Biden administration to provide relief to hard-hit employers by ending tariffs on key construction materials and reconsidering its recently proposed buy America regulations that will make it harder for firms to find and pay for key construction materials.   “Nonresidential contractors have endured 12 months of 20% increases in the cost of items they need to build projects,” said Ken Simonson, the association’s chief … Read more

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Monthly Construction Input Prices Increase in April

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Construction input prices increased 0.8% in April 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 rose 0.9% for the month. Construction input prices are up 23.7% from a year ago, while nonresidential construction input prices are 24% higher. Input prices were up in 10 of 11 subcategories in April. Softwood lumber was the only category in which prices decreased, falling 17.7% for the month. The largest price increases were in natural gas (+16.9%) and unprocessed energy materials (+10.3%).

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ABC’s Construction Backlog Up in April; Contractor Confidence Down

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Associated Builders and Contractors reported that its Construction Backlog Indicator increased to 8.8 months in April, according to an member survey conducted from April 20 to May 4. The reading is up 0.9 months from April 2021. The index readings for sales and staffing levels declined in April, while the reading for profit margins moved higher. All three indices remain above the threshold of 50, indicating expectations of growth over the next six months.

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Construction Employment Stalls as Industry Unemployment Rate Falls to 4.5%

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Construction employment edged up by 2,000 jobs between March and April as contractors try to find workers in an increasingly tight labor market, according to an analysis by the Associated General Contractors of America of new government data. Association leaders urged officials in Washington to address both short- and long-term worker shortages with expanded permits for foreign-born workers and support for career training and education to enable more workers to acquire the skills for high-paying construction careers. The unemployment rate among jobseekers with construction experience tumbled from 7.7% in April 2021 to 4.6% April 2022, the lowest April rate since … Read more

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