Construction Employment Rises by 7K in September Amidst Tight Labor Market

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Construction employment increased by 7,000 jobs in September and by 156,000, or 2.1%, over the past 12 months, while the number of unemployed jobseekers with construction experience reached a record low for September, according to an analysis of new government data by the Associated General Contractors of America. Association officials said the modest increase in employment likely reflects tight labor conditions and urged federal officials to increase funding for career and technical education and pass immigration reform. “Contractors foresee plenty of projects to bid on, and nearly three-fourths of firms expect to add workers during the next twelve months, but … Read more

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Construction Employment Increases in 39 States, D.C. September 2018-September 2019

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Thirty-nine states and the District of Columbia added construction jobs between September 2018 and September 2019, while construction employment increased in 28 states from August to September, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials said that it is likely additional states would have added new construction jobs if firms could find more qualified workers to hire. “Although evidence is mounting that the overall economy is slowing, contractors in most states are still eager to hire,” said Ken Simonson, the association’s chief economist. “But they are unable to find qualified workers … Read more

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Dodge Momentum Index Posts Recent Gain

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The Dodge Momentum Index moved 4.1% higher in September to 143.6 (2000=100) from the revised August reading of 137.9. The momentum index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. The gain in September was due entirely to an 8.9% increase in the commercial component, while the institutional component fell 4.8%. For the third quarter, the overall momentum index averaged 140.1, a scant increase of 0.7% from its average in the … Read more

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Marcum Commercial Construction Index Reports Nonresidential Construction Industry Slows, Economy Cools 

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The Marcum Commercial Construction Index for the second quarter of 2019 reports construction spending slowing as the economy signals confusion and indecisiveness. Nonresidential construction spending declined 1.8% on a monthly basis in June but is up 2.3 % year-over-year. Total nonresidential spending in June was $773.8 billion on a seasonally adjusted annual basis, as compared to $756.4 billion in June 2018. The index is produced by Marcum’s National Construction Services group.   Eleven of the 16 nonresidential construction sectors expanded year-over-year, including lodging, office, healthcare, public safety, amusement and recreation, transportation, highway and street, sewage and waste disposal, water supply, … Read more

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Contractors Share Perception of Resilient Building amid Peak Hurricane Season

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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

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