AGC Reports Construction Employment Declines in 203 Metro Areas March 2020-March 2021 Despite Homebuilding Boom, Improving Economy

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Construction employment decreased from March 2020 to March 2021 in 203, or 57%, of the nation’s metro areas, according to an analysis by the Associated General Contractors of America of government employment data recently released. Association officials said the industry’s broader recovery in many parts of the country is being hampered by rising materials prices, supply chain disruptions and project cancellations.   “Nearly twice as many metros have lost construction jobs as gained them in the past 12 months, even though homebuilding has recovered strongly and the overall economy is in much better shape than it was a year ago,” … Read more

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Dodge Momentum Index Moves 1.7% Higher in March

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The Dodge Momentum Index moved 1.7% higher in March to 151.4 (2000=100) from the revised February reading of 148.8. The momentum index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. According to the March data, the index hit its highest level since the summer of 2018 as a result of an increase in institutional projects that entered the planning stage, and which came on the heels of a similar gain for … Read more

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Construction Employment in March Remains Below March 2020 Levels, Says AGC

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Construction employment in March remained below March 2020 levels in 35 states despite a sizzling homebuilding market and a strong recovery from severe winter weather, according to an analysis by the Associated General Contractors of America of government employment data. Association officials cautioned, however, that a host of challenges, including continued project cancellations, rising materials prices and supply chain uncertainties are making business conditions for contractors difficult.   “Nonresidential contractors are coping with a depleted list of projects, extreme cost increases and unprecedented supply-chain problems,” said Ken Simonson, the association’s chief economist. “These headwinds are likely to keep industry employment … Read more

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Construction Adds 110K Jobs in March, ABC Says Here Comes Tsunami of Growth

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The construction industry added 110,000 jobs in March, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. The industry has added 931,000 jobs since April 2020, recovering 83.6% of the jobs lost during earlier stages of the COVID-19 pandemic. The construction unemployment rate fell to 8.6% in March from 9.6% in February, but it is still 1.7 percentage points higher than in March 2020. Unemployment across all industries declined from 6.2% in February to 6.0% in March. A significant percentage of the job growth was registered in nonresidential construction, which added … Read more

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Construction Employment Rebounds in March, Rising Costs + More Threaten Outlook Says AGC

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Construction employment climbed by 110,000 in March as the industry recovered from severe winter weather that pushed employment down by 56,000 in February, according to a recent analysis by the Associated General Contractors of America of government data. Association officials said they were encouraged by the recent job gains and the potential for new infrastructure investments. But they cautioned that rising prices and erratic delivery schedules for key construction materials — as documented in their recent Construction Inflation Alert – and continued project cancellations could undermine the sector’s recovery. “The rebound in March is certainly good news, but contractors face … Read more

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