March Construction Starts Surge 16 Percent

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New construction starts in March advanced 16% from the previous month to a seasonally adjusted annual rate of $809.2 billion, according to Dodge Data & Analytics. The substantial gain followed a lackluster performance during the first two months of 2019, as total construction starts in March were able to climb back to a level slightly above the average monthly pace during 2018. The March data produced a reading of 171 for the Dodge Index (2000=100), up from 148 in February, and 1% higher than the full year 2018 average for the Dodge Index at 170. At the same time, the Dodge Index … Read more

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Construction Employment Increases in 38 States from March 2018 Year Over Year

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Thirty-eight states added construction jobs between March 2018 and March 2019, while construction employment increased in 29 states between February and March, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials said the widespread gains show demand for workers remains strong and urged federal officials to enact immigration reforms to boost the supply of qualified workers. “Although construction has added jobs in many states at a higher rate than the private sector as a whole in the past year, the record number of job openings at the end of February shows contractors … Read more

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Dodge Momentum Index Inches Higher in March

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The Dodge Momentum Index increased 0.5% in March to 145.5 (2000=100) from the revised February reading of 144.8. 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 March uptick was due to a 2.8% increase in the commercial component of the momentum index, while the institutional component fell 3%. The overall momentum index has essentially moved sideways and stayed within a very narrow band of activity since the … Read more

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Construction Sees Minor Job Growth in March, Says ABC

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The construction industry added 16,000 net new jobs in March, according to an Associated Builders and Contractors analysis of data released by the Bureau of Labor Statistics. On a year-over-year basis, industry employment is up 246,000 jobs, representing a 3.4% increase. Nonresidential employment added 3,200 net new jobs last month, with the bulk of growth among nonresidential specialty contractors, which added 5,500 net new jobs. Heavy and civil engineering added 600 jobs, while the nonresidential building category lost 2,900 positions. The construction industry unemployment rate fell to 5.2%, down a full percentage point from the previous month. Compared to the … Read more

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Construction Spending Increases 1% from January to February

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Construction spending increased by 1% from January to February, while construction employment increased compared to February 2018 levels in 275 out of 358 metro areas, according to an analysis of new government data by the Associated General Contractors. Association officials called on federal officials to support more career and technical education programs to prepare workers for in-demand careers like construction. “The spending increase in February follows an extremely strong 2.5% gain in January, which aligns with contractors’ reports that they were busy early in the year and expect to stay that way through 2019,” said Ken Simonson, the association’s chief … Read more

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