ABC Releases Data for September Construction Job Openings

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The construction industry had 288,000 job openings on the last day of September, according to an Associated Builders and Contractors’ analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry job openings decreased by 40,000 last month and are down by 134,000 from the same time last year. “September’s data, which show a precipitous 32% decline in construction industry job openings over the past year, likely overstate the degree that demand for construction workers has slowed,” said … Read more

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Construction Employment Increases In 40 States From September 2023 To September 2024

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Construction employment increased in 40 states in September from a year earlier, while 24 states and the District of Columbia added construction jobs between August and September, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said even more states would have added workers if contractors could find enough qualified applicants. Between September 2023 and September 2024, 40 states added construction jobs, while 10 states and D.C. shed jobs. Texas added the most construction employees (42,300 jobs or 5.1%), followed by Florida (37,100 jobs, 5.9%), Ohio (16,400 jobs, 6.9%), and … Read more

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Marcum LLP Unveils Critical Industry Trends in 2024 Construction Survey Amid Economic Uncertainty

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Marcum LLP has released the 2024 Marcum National Construction Survey. This comprehensive report provides critical insights into the construction industry’s current state and future outlook based on responses from industry leaders nationwide. Key findings: Optimism tempered by uncertainty: The survey reveals cautious optimism among construction industry leaders. While there is a general sense of confidence, it is balanced by concerns about economic and political uncertainties, particularly in an election year. Federal funding impact: The Infrastructure Investment and Jobs Act, CHIPS Act and Inflation Reduction Act are expected to fuel growth in the construction sector. Significant federal funding is earmarked for … Read more

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Construction Backlog Indicator Rebounds in September, Contractor Confidence Improves

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Associated Builders and Contractors reported that its Construction Backlog Indicator increased to 8.6 months in September, according to an ABC member survey conducted Sept. 20-Oct. 4. The reading is down .4 months from September 2023. Backlog increased in every region except for the Northeast in September. On a year-over-year basis, however, only the Middle States have longer backlog than one year ago. ABC’s Construction Confidence Index readings for sales, profit margins and staffing levels improved in September. The readings for all three components are above the threshold of 50, indicating expectations for growth over the next six months. Visit abc.org/economics for the … Read more

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Construction Input Prices Down in September

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Construction input prices decreased .9% in September compared to the previous month, according to an Associated Builders and Contractors’ analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices also decreased .9% for the month. Prices decreased in two of the three energy subcategories last month. Crude petroleum prices were down by 16.7%, while unprocessed energy materials prices were down 12.6%. Natural gas prices rose 2.4% in September. Overall construction input prices are 1.9% lower than a year ago, while nonresidential construction input prices are 2.1% lower. “The decline in construction input costs observed in … Read more

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