2024 Construction Employment Changes by State

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In March, the U.S. construction industry added a whopping 39,000 jobs, roughly double the average pace over the past few years and defying expectations of an already stretched-thin labor force. However, the construction industry remains highly localized and the where is extremely important when it comes to getting any project over the finish line. The distribution of gains by state reveals much about the industry’s needs and direction. New York outperformed all other states by a significant margin, accounting for roughly a quarter of total job gains (+9,500). While this growth reversed a sharp downturn from last month, the state’s … Read more

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Dodge Momentum Index Increases 6% in April

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The Dodge Momentum Index, issued by Dodge Construction Network, increased 6.1% in April to 173.9 (2000=100) from the revised March reading of 164.0. Over the month, commercial planning improved 12.6% and institutional planning dropped 6.3%. A flood of data center projects entered planning in April, causing robust growth in the commercial segment of the DMI, while traditional office and hotel projects continued to face slower momentum. Warehouse planning was basically flat. On the institutional side, education and healthcare planning activity receded again – in part, driven by another month of weak life science and R&D laboratory activity. Year over year, the DMI was 1% lower than in April 2023. The commercial segment was … Read more

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March Construction Job Openings Show Volatility, Decreasing By 182,000, Says ABC

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The construction industry had 274,000 job openings on the last day of March, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry job openings decreased by 182,000 last month and are down by 17,000 from the same time last year. “Construction job openings plunged in March, falling to the lowest level since October 2020,” said ABC Chief Economist Anirban Basu. “While there are many headwinds facing the industry, including the prospect of higher-for-longer interest rates, this dismal number likely reflects a statistical aberration rather than a legitimate decline in … Read more

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Labor Shortages Impact Construction Growth Potential for Mission-Critical Sectors

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Linesight recently released its Construction Market Insights report for the Americas, showing that demand for construction workers has surged, leading to rising labor costs and increased project delays. The construction industry has shown resilience with robust growth in the data center and high-tech industrial sectors, offsetting the decline in the commercial and residential sectors. While commodity prices have eased, several challenges persist including higher finance costs as a result of elevated interest rates, as well as challenging supply chain timelines for MEP equipment and labor shortages. The widening gap between labor supply and demand is increasing costs. In January 2024, … Read more

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ABC’s Construction Backlog Indicator Rebounds

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Associated Builders and Contractors reported its Construction Backlog Indicator increased to 8.2 months in March from 8.1 months in February, according to an ABC member survey conducted March 20-April 3. The reading is down 0.5 months from March 2023. View ABC’s Construction Backlog Indicator and Construction Confidence Index tables for March. View the full Construction Backlog Indicator and Construction Confidence Index data series. Backlog is down over the past year for every region except for the Middle States, which now has the second largest backlog of any region. The South continues to have the largest backlog despite a large decline … Read more

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