Contractors Share Perception of Resilient Building amid Peak Hurricane Season

  • Posted on

The Q3 2019 USG Corporation + U.S. Chamber of Commerce Commercial Construction Index recently released climbed to a record high score of 77, up from 74 in Q2 2019. Half of all contractors expect revenue increases over the next year, rising 14 points quarter-over-quarter. Also, notably higher is the expectation for profit margins to increase in the next year, which grew by 12 points between Q2 and Q3 2019. The majority (58%) of contractors report they are highly confident that the next 12 months will bring sufficient business opportunities, a six-point growth over Q2. This is the largest percentage in the last … Read more

Filed under: Economic NewsTagged with: ,

Construction Employment Grows in 252 out of 358 Metro Areas from August 2018 to August 2019, says AGC

  • Posted on

Construction employment grew in 252 out of 358 metro areas between August 2018 and August 2019, declined in 60 and was unchanged in 46, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said that while firms are finding ways to add staff, a recent survey found 80% of contractors are having a hard time finding enough workers to hire. “Construction firms would likely be adding even more jobs if they could find more qualified workers to hire,” said Ken Simonson, the association’s chief economist. “But tight labor market conditions … Read more

Filed under: Economic NewsTagged with: , ,

Construction Employment Increases in 39 States, D.C. from August 2018 to August 2019

  • Posted on

Thirty-nine states added construction jobs between August 2018 and August 2019, while construction employment increased in 29 states from July to August, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials said that construction workforce shortages identified in a survey the association released last month may have kept more states from adding construction jobs this past month. “Even more states probably would have posted gains in construction employment if firms could find enough people to hire,” said Ken Simonson, the association’s chief economist. “They are finding most craft positions hard to fill, … Read more

Filed under: Economic NewsTagged with: ,

Start of Large Projects Continues to Impact Available of Skilled Labor, Reveals Turner Construction Index

  • Posted on

Turner Construction Company announced that the Second Quarter 2019 Turner Building Cost Index—which measures costs in the non-residential building construction market in the United States—has increased to a value of 1149. This represents a 1.23% quarterly increase from the first quarter of 2019 and a 5.51% annual increase from the second quarter of 2018, respectively. “Raw material costs in the second quarter of 2019 have been relatively stable and contractors continue to be selective due to the availability of skilled labor,” said Attilio Rivetti, the Turner vice president responsible for compiling the cost index. Attilio continued, “We will also need … Read more

Filed under: Economic NewsTagged with: ,

Labor Shortages Likely Held Back Additional Hiring, New AGC Survey Reports

  • Posted on

Construction employment grew in 255, or 71%, out of 358 metro areas between July 2018 and July 2019, declined in 56 and was unchanged in 47, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said a newly released workforce survey showed the employment gains would likely have been even more widespread if firms could find more qualified workers to hire, and they urged federal officials to bolster career training programs. “Demand for construction has not slackened in most metro areas,” said Ken Simonson, the association’s chief economist. “In fact, … Read more

Filed under: Economic News, eNewsTagged with: ,