Construction Jobs Increase by 21K in June, 224K during Past Year as Sector Unemployment Rate Decreases to 4%

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Construction employment increased by 21,000 jobs in June and by 224,000, or 3.2%, over the past 12 months, while the number of unemployed jobseekers with construction experience fell, according to an analysis of new government data by the Associated General Contractors of America. Association officials noted that firms continue to increase pay as they work to attract new hires from an ever-tighter labor market. “Construction firms continue to go to great lengths to recruit and retain workers during one of the tightest labor markets many of them have ever experienced,” said Stephen E. Sandherr, the association’s CEO. “Making matters worse, … Read more

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Nonresidential Construction Spending Slips Modestly in May, Says ABC

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According to a recent Associated Builders and Contractors analysis of U.S. Census Bureau data, national nonresidential construction spending declined 0.9% in May, totaling $788.5 billion on a seasonally adjusted annualized basis and a 4.4% increase compared to the same time last year. While total public and private nonresidential spending declined 0.9% since April, public spending was up 11.2% and private spending was down 0.1% year over year. Among the 16 nonresidential construction spending categories tracked by the Census Bureau, five experienced increases in monthly spending, including transportation (4%), communication (1.3%) and public safety (1.2%). Religious (-5.5%), commercial (-3.3%) and highway … Read more

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Architecture Billings Remain Flat in May

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Demand for design services in May remained essentially flat in comparison to the previous month, according to a new report from The American Institute of Architects. AIA’s Architecture Billings Index score for May showed a small increase in design services at 50.2, which is slightly down from 50.5 in April. Any score above 50 indicates an increase in billings. Both the project inquiries index and the design contracts index softened in May but remained positive. “The last four consecutive months, firm billings have either decreased or been flat, the longest period of that level of sustained softness since 2012,” said … Read more

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Construction Input Prices See Slight Increase in May, Says ABC

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Construction input prices rose slightly by 0.3% in May on a monthly basis and are up 0.6% over the last 12 months, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics data. Nonresidential input prices were also up 0.3% compared to the previous month and are 1.1% higher than they were a year ago. Among the 11 subcategories, six saw prices fall last month, with the largest decreases in natural gas (-15.2%), unprocessed energy materials (-8.2%) and crude petroleum (-6.2%). Of the remaining five subcategories, only two experienced price increases greater than 1%: nonferrous wire … Read more

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Modest Increase in Nonresidential Spending in April, says ABC

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According to an Associated Builders and Contractors analysis of U.S. Census Bureau data recently released, national nonresidential construction spending rose .3% in April, totaling $792.6 billion on a seasonally adjusted annualized basis, which is a 6.4% increase compared to the same time last year. While public nonresidential spending expanded 4.8% on a monthly basis and increased 15.4% since April 2018, private nonresidential spending fell 2.9% in April and is up just 0.6 % year-over-year. Among the 16 nonresidential construction spending categories, nine experienced an increase in monthly spending, with the largest increases registered in water supply (9.8%), highway and street … Read more

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