New Coronavirus Recovery Measure to Provide Relief for Contractors Coping with Project Cancelations, Falling Demand

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The Associated General Contractors of America’s CEO Stephen E. Sandherr issued the following statement in reaction to the release of compromise coronavirus relief legislation slated for House and Senate votes as early as Dec. 21:   “The new coronavirus recovery measure announced today should provide some needed relief for a construction industry that is coping with project cancellations and job losses in most parts of the country. Most notably, the measure includes $10 billion in needed funding to help address the pandemic-induced shortfalls in state transportation revenues. This new funding should keep a number of road projects from getting canceled […]

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One-Third Metro Areas Add Construction Jobs in Latest 12 Months

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Only 30% of the nation’s metro areas added construction jobs in the past year, according to an analysis of new government data that the Associated General Contractors of America released. Association officials said construction employment in most parts of the country was being impacted by the pandemic as businesses and local governments curtail planned construction projects. “The pandemic has devastated the finances for businesses, institutions and state and local governments, leading to widespread postponements and cancellations of construction projects,” said Ken Simonson, the association’s chief economist. “As contractors use up the funds from Paycheck Protection Program loans, even more job […]

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Nonresidential Construction Spending Remains Flat in October, Residential Construction Expands, says AGC

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The construction industry’s fortunes continued to diverge in October, as residential construction expanded again while nonresidential construction remained largely unchanged from a month ago and is down compared to last year, according to an analysis of new federal construction spending data by the Associated General Contractors of America. Association officials said that demand for nonresidential construction is being hit by private sector worries about the coronavirus, tighter state and local budgets and the lack of new federal pandemic relief measures.   “The October spending report shows private nonresidential construction is continuing to slide,” said Ken Simonson, the association’s chief economist. […]

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Dodge Outlook 2021 Predicts Slow, Uneven Recovery throughout 2021

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Dodge Data & Analytics released its 2021 Dodge Construction Outlook, a mainstay in construction industry forecasting and business planning. The report predicts that total U.S. construction starts will increase 4% in 2021, to $771 billion. “The COVID-19 pandemic and recession has had a profound impact on the U.S. economy, leading to a deep drop off in construction starts in the first half of 2020,” stated Richard Branch, chief economist for Dodge Data & Analytics. “While the recovery is underway, the road to full recovery will be long and fraught with potential potholes. After losing an estimated 14% in 2020 to $738 […]

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Nonresidential Construction Employment Expands in October, says ABC

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The construction industry added 84,000 net new jobs in October, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. During the last six months, the industry has added 789,000 jobs, recovering 73% of the jobs lost during earlier stages of the pandemic. Nonresidential construction employment added 59,700 jobs on net in October. All three nonresidential subcategories experienced increases; the largest was registered among nonresidential specialty trade contractors, which added 27,500 positions on net. Heavy and civil engineering added 18,800 jobs while nonresidential building added 13,400. The construction unemployment rate was 6.8% […]

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