Construction Employment Trails Pre-COVID Levels in 91 Metro Areas, Says AGC

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Construction employment declined in 91 metro areas and was stagnant in another 24 between February 2020, the last month before the pandemic, and May 2021, according to an analysis by the Associated General Contractors of America of government employment data. They said the high number of metro areas losing construction jobs during that time frame reflected the impacts of early pandemic shutdowns and more recent challenges procuring construction materials and finding qualified workers to hire.   “The devastating job losses of early 2020 and more recent materials and labor challenges since then have kept industry employment stagnant or lower this … Read more

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Commercial Construction Contractors Upbeat on Outlook Despite Worsening Material Shortages, Worker Shortages

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Contractors continue to face a shortage of building materials like lumber and steel, while cost fluctuations for the building products are having increasing impact on business, according to second quarter data from the U.S. Chamber of Commerce Commercial Construction (Index). This quarter, 84% of contractors are facing at least one material shortage. Almost half (46%) of contractors say less availability of building products has been a top concern lately, up from 33% who said the same last quarter. Despite the materials challenges, the overall Index score rose three points to 65 (its highest reading since a score of 74 in … Read more

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ABC’s Construction Backlog Inches Higher in May, Materials + Labor Shortages Suppress Contractor Confidence

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Associated Builders and Contractors reports that its Construction Backlog Indicator rose to 8.0 months in May, according to an ABC member survey conducted from May 20 to June 2, 0.1 months higher than in April 2021 and May 2020. While ABC’s Construction Confidence Index readings for sales increased modestly in May, confidence regarding profit margins and staffing levels slipped. All three indices remain above the threshold of 50, indicating expectations of growth over the next six months. “Nonresidential construction backlog continues to edge higher, consistent with expectations that sales, profit margins and staffing will expand over the next six months,” … Read more

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Analysis Reports Construction Employment Slips by 20K in May, Supply-Chain Problems Plague Nonresidential Contractors

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Construction employment declined for the third time in the past four months in May as nonresidential contractors coped with lengthening and unpredictable delivery times that limited their ability to start or complete projects, according to an analysis by the Associated General Contractors of America of government data. Association officials added that many contractors report they are having a hard time finding qualified workers to hire as some people remain reluctant to return to work while their children are learning from home, or they are collecting elevated unemployment supplements. “Steadily worsening production and delivery delays have exceeded even the record cost … Read more

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Contractor Confidence up Despite Slow Recovery, Finds Marcum Commercial Construction Index

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The Marcum Commercial Construction Index for the first quarter of 2021 reports that the industry has yet to reach the broader economy’s pace of recovery despite elevated contractor confidence. The construction industry has added 917,000 jobs since May 2020, equivalent to roughly 82% of the jobs lost during the initial months of the pandemic. The index is produced by Marcum LLP’s national Construction Services group. “Despite the malaise characterizing a number of commercial real estate segments, contractor confidence increased steadily during the first quarter of 2021,” wrote Anirban Basu, author of the report and Marcum’s chief construction economist. “According to … Read more

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