Nonresidential Construction Employment Dips in April

  • Posted on

The construction industry added 2,000 jobs in April, but nonresidential construction employment decreased by 2,000 positions, according to an Associated Builders and Contractors analysis of data by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 235,000 jobs, an increase of 3.2%. All of the job losses in the nonresidential sector came from the nonresidential specialty trade segment, which lost 6,400 jobs. Nonresidential building and heavy and civil engineering added 3,900 and 500 jobs, respectively. The construction unemployment rate dropped to 4.6% in April. Unemployment across all industries remained unchanged at 3.6% last month. … Read more

Filed under: Economic NewsTagged with:

State Construction Unemployment Down in 45 States from Previous Year, Says ABC

  • Posted on

The not-seasonally adjusted national construction unemployment rate dropped 2.6% in March 2022 from a year ago, down from 8.6% to 6%, while 45 states had lower unemployment rates over the same period, according to a state-by-state analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. This considerable improvement occurred as cases of the omicron variant fell and many states began lifting some or all of their COVID-19 restrictions. National NSA construction employment was 230,000 higher than in March 2021. For the first time since the pandemic hit the United States, seasonally adjusted construction employment in … Read more

Filed under: Economic News, eNewsTagged with: , ,

Construction Job Openings Increased in March; Demand for Labor Remains Strong

  • Posted on

The construction industry had 396,000 job openings in March, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. Industry job openings increased by 13,000 in March and are up 60,000 from the same time last year. Construction workers quit their jobs at a faster rate than they were laid off or discharged in March, with the quits rate of 3.2% well above the layoffs and discharges rate of 1.6%. March represented the 13th consecutive month in which quits outpaced or equaled layoffs and discharges. “The March JOLTS data reflect a labor … Read more

Filed under: Economic NewsTagged with:

Nonresidential Construction Spending Down 1% in March

  • Posted on

National nonresidential construction spending was down 0.8% in March, 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 $839.2 billion for the month. Spending was down on a monthly basis in 11 of 16 nonresidential subcategories. Private nonresidential spending was down 1.2%, while public nonresidential construction spending was down 0.3% in March. On a year-over-year basis, nonresidential construction spending is up 5.6%, led by 31.9% growth in construction related to manufacturing. “March’s construction spending numbers aren’t adjusted for inflation and are actually worse than … Read more

Filed under: Economic NewsTagged with: ,

April Consigli Market Update

  • Posted on

Consigli Construction has released its latest market update. The hopeful trend toward price stabilization and supply chain improvements in early 2022 is now complicated by new challenges. The war in Ukraine has reduced the supply of raw materials, port congestion from China to Los Angeles continues to delay shipments on all goods, while new COVID-19 variants have continued, leading to a forecasted overall escalation of 7-9%. The market report highlighted the following trends: ► Product Availability – Overall demand for materials will remain high with supply moderately low. A recent COVID-19 outbreak in China is slowing chip manufacturing due to … Read more

Filed under: Economic NewsTagged with: