Marcum Commercial Construction Q3 Index Reports Construction Industry Healthy Heading into 2020

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The Marcum Commercial Construction Index for the third quarter of 2019 finds the industry in overall good health as 2020 approaches, despite some causes for concern. Entitled The Good, The Bad, and The Ugly, the report is produced by Marcum LLP’s Construction Services Group. The good On the positive side, Marcum’s third-quarter index points to increased public construction spending, growing backlogs, falling input prices, the ongoing U.S. economic expansion, a strong construction labor market and interest rate cuts as key factors sustaining the construction industry’s momentum. Highlights noted include: A 1.5% increase in public construction spending in September and a … Read more

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Construction Employment Increases in 231 out of 358 Metro Areas from October 2018 to October 2019

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Construction employment grew in 231, or 65%, out of 358 metro areas between October 2018 and October 2019, declined in 69 and was unchanged in 58, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said hourly craftworker positions remain difficult to fill despite the widespread job gains, and they urged federal officials to promote more workplace-based immigration, along with career and technical education. “Employers in most areas remain busy and eager to hire workers, but they struggle to find qualified employees in many metros,” said Ken Simonson, the association’s … Read more

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Construction Employment Increases in 41 States, D.C. Year-Over-Year

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Forty-one states and the District of Columbia added construction jobs between October 2018 and October 2019, while construction employment increased in 28 states from September to October, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials said that firm’s efforts to increase pay and benefits and do more in-house training appear to be helping them find people to hire despite tight labor conditions.   “Construction employment continues to experience robust growth in most parts of the country,” said Ken Simonson, the association’s chief economist. “Many firms appear to be overcoming the challenge … Read more

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New Report on Construction Industry Shows Staffing Remains Top Concern

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An improving economy has construction companies growing more comfortable about their risk exposure, with respondents reporting in a newly released survey that their “risk sentiment” has dropped to 4.91 (on a scale of 1-10). In the latest “Sterling Seacrest Risk Sentiment Index of the Construction Industry,” most report profit margins slightly better than last year, but concerns about staffing remain their number one issue. When Sterling Seacrest launched its Risk Sentiment Index in 2015, the risk sentiment level was at a peak of 5.15. It dropped in 2015 and 2016 but jumped again between 2016 and 2017. Businesses were also … Read more

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Nonresidential Construction Continues to Add Jobs, Says ABC

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The construction industry added 10,000 net new jobs in October, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has expanded by 148,000 jobs or 2%. Nonresidential construction employment increased by 4,000 jobs on net in October and is up 2.1% over the past year. On a monthly basis, however, both the nonresidential building and nonresidential specialty trade contractors segments lost jobs, which comports with the recent decline in investment in structures, according to the third quarter gross domestic product release. The construction unemployment rate … Read more

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