New Dodge Study Shows Contractors Concerned about Longer-Term Impacts of COVID-19 Crisis

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In order to better understand the degree of impact and biggest concerns that the construction industry has about the COVID-19 crisis, Dodge Data & Analytics conducted a survey of 172 contractors across the U.S. from March 19 to March 31. The results of that study, published in the Keeping Business Going in a Time of Crisis: Findings from the Dodge Contractor Panel Study on Contractors’ State of Business During the COVID-19 Outbreak white paper, reveals that most contractors are feeling at least some impact from the crisis, with the worst impact expected to be felt within the next three months. … Read more

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COVID-19 Cuts Nonresidential Construction Employment in March, Says ABC

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Construction industry employment declined by 29,000 in March, according to an Associated Builders and Contractors’ analysis of data released by the U.S. Bureau of Labor Statistics. Nonresidential construction employment declined by 24,600 in March. All three nonresidential segments registered job losses, with the largest decrease experienced in nonresidential building (-10,700) followed closely by heavy and civil engineering (-10,200). Nonresidential specialty trade lost 3,700 jobs on net. The construction unemployment rate was 6.9% in March, up 1.7 percentage points from the same time one year ago. Unemployment across all industries rose from 3.5% in February to 4.4% last month, a direct … Read more

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New Survey Finds Sharp Jump in Owners Canceling, Delaying Construction Projects Putting Jobs at Risk

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Thirty-nine percent of contractors report that project owners have halted or canceled current construction projects amid deteriorating economic conditions, according to a survey released by the Associated General Contractors of America. Association officials warned that these cancellations mean massive job losses are likely soon unless Congress passes targeted recovery measures to boost infrastructure funding, compensate firms for lost or delayed federally funded work and provide needed pension relief. The project cancellations are particularly severe in light of new data showing that 42 states added construction jobs through February. “The abrupt plunge in economic activity is taking a swift and severe … Read more

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February Rise in Construction Outlays Contrasts with Pandemic-Drive Collapse in March, AGC Says

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Construction spending in February increased 6% from February 2019, with year-over-year gains in both residential and nonresidential outlays, according to a new analysis of federal data released by the Associated General Contractors of America. Association officials cautioned that their latest survey shows conditions for contractors have deteriorated rapidly since February. They called on Congress to urgently pass targeted recovery measures to boost infrastructure funding, compensate firms for lost or delayed federally funded work, and provide needed pension relief. “Spending in February declined 1.3% from an upwardly revised, exceptionally strong pace in January that was aided by unusually mild winter weather … Read more

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AGC Reports Construction Employment Increases in February, Industry’s Unemployment Rate Sets New Low

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Construction employment increased by 42,000 jobs in February and by 223,000 or 3% over the past 12 months, as the industry’s unemployment rate hit a new February low, according to an analysis of new government data by the Associated General Contractors of America. Association officials said some of the gains were attributable to mild winter weather in many parts of the country last month but added that the main reason for the gains was strong demand for construction services. “Contractors are off to a fast start in 2020, adding 91,000 jobs in the first two months—the most in nearly two … Read more

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