Monthly Construction Input Prices Unchanged in November, Says ABC

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Construction input prices were unchanged in November 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 increased .1% for the month. Overall construction input prices are .5% higher than a year ago, while nonresidential construction input prices are .3% higher. Prices decreased in two of the three energy subcategories last month. Crude petroleum prices were down 3.3%, while unprocessed energy materials prices were down 2%. Natural gas prices were up 2.6% in November. “Construction input prices are up just .2% through the … Read more

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ABC’s Construction Backlog Indicator Holds Steady in November, Contractor Confidence Surges

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Associated Builders and Contractors reported its Construction Backlog Indicator remained unchanged at 8.4 months in November, according to an ABC member survey conducted Nov. 20-Dec. 3. The reading is down .1 months from November 2023. Backlog in the infrastructure category contracted in November, though it is still the only category with higher backlog on a year-over-year basis. ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels improved in November. The readings for all three components remain above the threshold of 50, indicating expectations for growth over the next six months. “Contractor confidence surged in November even though … Read more

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JLL Reports US Construction Industry Builds Momentum for 2025

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The U.S. construction industry is poised for a year of measured growth and adaptation in 2025, following a year of exceptional performance marked by waning starts. JLL’s new 2025 U.S. Construction Outlook details the opportunities, challenges and key focus areas for the construction industry in the coming year, accounting for a rapidly shifting political and economic landscape in the near term. Baseline forecasts call for modest real growth by year-end 2025. While political and economic transitions may temper some opportunities, JLL expects a return to fundamentals to drive growth in key sectors. The shifting dynamics will take time to solidify, … Read more

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ABC: Construction Adds Just 10,000 Jobs in November

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The construction industry added 10,000 jobs on net in November, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has risen by 211,000 jobs, an increase of 2.6%. Nonresidential construction employment increased by 6,800 positions on net, with growth in 2 of the 3 subcategories. Nonresidential specialty trade added the most jobs on net, with employment in the category increasing by 7,000 positions. Heavy and civil engineering added 1,500 jobs, while nonresidential building lost 1,700 jobs last month. The construction unemployment rate rose to … Read more

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ABC: Construction Job Openings Down Nearly 40% From a Year Ago

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The construction industry had 249,000 job openings on the last day of October, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry job openings decreased by 9,000 for the month and are down by 164,000 from the same time last year. “Construction industry job openings fell again in October and are down nearly 40% over the past year,” said ABC Chief Economist Anirban Basu. “While JOLTS data can be … Read more

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