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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Dodge Data & Analytics Reports National Construction Starts Continue Decline in February

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Total construction starts fell 2% in February to a seasonally adjusted annual rate of $797.3 billion. Nonbuilding construction starts posted a solid gain after rebounding from a weak January, however, residential and nonresidential building starts declined, leading to a pullback in overall activity. The Dodge Index fell 2% in February, to 169 (2000=100) from January’s 171. “With spring just around the corner, hope is building for a strong economic recovery fueled by the growing number of vaccinated Americans,” said Richard Branch, chief economist for Dodge Data & Analytics. “But the construction sector will be hard-pressed to take advantage of this … Read more

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AGC Reports Soaring Materials Costs, Supply-Chain Problems + Project Cancelations Continue to Impact Construction Industry

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One year after the pandemic struck, construction firms are experiencing soaring materials costs, widespread supply-chain problems and continuing project deferrals and cancellations, according to a new survey that the Associated General Contractors of America has released. Association officials urged Congress and the Biden administration to take steps to eliminate tariffs on key materials, address shipping backups and boost funding for new infrastructure to help the industry recovery.   “The survey results make it clear that the construction industry faces a variety of challenges that threaten to leave many firms and workers behind, even as some parts of the economy are … Read more

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