Dodge Momentum Index Moves Lower in December

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NEW YORK, N.Y. – Dodge Momentum Index fell 4.9 percent  in December to 151.9 (2000=100) from the revised November reading of 159.7. 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 decline in December was due to a 7.6 percent drop in the commercial component of the momentum index, while the institutional component fell .7 percent. For the full year, the momentum index gained 4.3 percent from the … Read more

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Construction Industry Salaries on the Rise

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ALACHUA, Fla. — Skilled craft professionals continue to earn high wages, according to NCCER’s 2018 Construction Craft Salary Survey. More than 130 industrial and commercial construction companies across the U.S., representing over 350,000 employees, participated in the survey. The individual craft areas reported provide average annual salaries, not including overtime, per diem, bonuses or other incentives. Of the 32 construction positions surveyed, average annual salaries ranged from $47,700 to $92,500. Project supervisors and program managers topped the list, earning over $88,000 and $92,500 respectively. Professions earning more than $65,000 include boilermaker, mobile crane operator, tower crane operator, millwright, industrial electrician, … Read more

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Construction Employment Rises by 38K in December, 280K in 2018

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Construction employment increased by 38,000 jobs in December and by 280,000 jobs, or 4 percent, over the past year, while the industry’s average pay accelerated and unemployment decreased to a historic low, according to an analysis of new government data by the Associated General Contractors of America. Association officials added that most contractors report they plan to continue hiring in 2019, according to the association’s annual outlook. “Demand for construction remains strong across most project types and locations,” said Ken Simonson, the association’s chief economist. “Job growth and pay increases in construction are outpacing those in the overall economy. But … Read more

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Contractors Lose Confidence in Q3 but Remain Upbeat

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WASHINGTON, D.C. — While construction industry leaders remained confident in the third quarter of 2018, optimism slipped relative to the second quarter, according to the latest Construction Confidence Index released by Associated Builders and Contractors. Approximately three in four construction firms expect that sales will continue to rise over the next six months and closer to one in 10 expect sales to decline over the next two quarters. Though many firms expect to become even busier, fewer than six in 10 contractors expect profit margins to increase, a reflection of rising human capital, materials prices and other input costs. Despite … Read more

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Construction Employment Rises November 2017-18 Year-Over-Year

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Forty-two states and the District of Columbia added construction jobs between November 2017 and November 2018, while 23 states added construction jobs between October and November, according to a new analysis by the Associated General Contractors of America of Labor Department data. Association officials said extremely low unemployment rates in most of the nation have made it hard for contractors in many states to continue adding workers, despite strong demand for projects. “November was the first month this year in which fewer than half the states experienced monthly increases in construction employment,” stated chief economist Ken Simonson. “At a time … Read more

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