Construction Employment Climbs by 52K in January to 11-Year Peak

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Construction employment increased by 52,000 jobs in January and by 338,000 jobs, or 4.7 percent, over the past year, while the latest reading on construction spending showed moderate increases in all major categories, according to an analysis of new government data by the Associated General Contractors of America. Association officials urged government officials to strengthen career and technical education programs and facilitate immigration for workers with construction skills before a worker shortage stalls completion of needed infrastructure. “There has been no letup in demand for construction projects—or workers,” said Ken Simonson, the association’s chief economist. “Even though the industry added … Read more

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Construction Employment Increases in 2018 amid Strong Demand

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Construction employment grew in 273 out of 358 metro areas between December 2017 and December 2018, declined in 37 and was unchanged in 48, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said the job gains came amid strong demand throughout 2018 for construction projects but noted that tight labor market conditions likely prevented additional job gains last year. “Construction employment continued to expand in most parts of the country in 2018 as demand for many types of construction projects grew,” said Ken Simonson, the association’s chief economist. “As … Read more

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FMI Releases 2019 FMI Overview

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FMI Corporation has released its “2019 FMI Overview,” featuring FMI’s latest forecast, the 2019 U.S. and Canada Construction Outlook. The publication offers comprehensive construction forecasts for a broad range of market segments and geographies in the U.S. and Canada and provides valuable insights from FMI executives on how to navigate the next 12 months. Key highlights of the report include: 2018 marked another strong year for the North American built environment, with total U.S. engineering and construction spending growth expected to finish at 5 percent, the same as in 2017. Spending growth in 2018 was predominantly led by transportation and … Read more

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Construction Costs Increase as Markets Remain Active

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According to Turner Construction Company’s quarterly Building Cost Index, construction activity during the Fourth Quarter 2018 has remained at a high level across the United States. Turner Construction Company announced that the Fourth Quarter 2018 Turner Building Cost Index—which measures costs in the non-residential building construction market in the United States—has increased to a value of 1120. This represents a 1.36 percent quarterly increase and 5.86 percent yearly increase from the Third Quarter 2018 and Fourth Quarter 2017, respectively. “For the Fourth Quarter, the escalation on raw and fabricated materials continue,” said Attilio Rivetti, the Turner vice president responsible for … Read more

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Dodge Momentum Index Recovers in January

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The Dodge Momentum Index rose 4.7 percent in January to 157.7 (2000=100) from the revised December reading of 150.6. 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. January’s increase reflected similar gains for the two components of the momentum index – institutional building, up 5.0 percent; and commercial building, up 4.6 percent. The January increase essentially reverses December’s decline, and brings the overall momentum index back to November’s … Read more

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