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 […]

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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 […]

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Rider Levett Bucknall Releases Quarterly Cost Report for North America, Puts Construction Trends in Perspective

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International property and construction consultancy firm Rider Levett Bucknall has released its new quarterly cost report for North America. With data up to date to July 1 and featuring construction cost information for 14 U.S. and Canadian markets, the QCR provides a statistical view of the state of the construction industry, detailing indicative construction costs for eight building sectors. Upon publication of the QCR, Julian Anderson, FRICS, president of RLB North America, said, “While we expect that construction will face a downturn in the next year, this doesn’t necessarily mean that the construction industry is in trouble; it does mean […]

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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 […]

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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 […]

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